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Wednesday, June 14, 2006

Shareholders Sue Sands Regent

As reported by the Reno Gazette-Journal: "Shareholders unhappy with The
Sands Regent's deal to sell to Herbst Gaming of Las Vegas for $148 million
are suing and asking for a better price, according to court documents. "The
deal announced last month would give shareholders $15 per share, but the
complaint filed in Washoe District Court calls the price 'grossly inadequate
and unfair.' "'The realizable value from growth and a recovery of the
company's historic performance, as well as the Reno tourism projections, is
far in excess of $15 per share,' the class-action complaint states."

posted by Jerry "Jet" Whittaker at 6/14/2006 08:42:00 AM

 

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Remember, you can beat the odds, but you can't beat the percentages.