MILWAUKEE, July 16, 2014 (GLOBE NEWSWIRE) -- We are investigating the Board of Directors of IGT for possible breaches of fiduciary duty and other violations of state law in connection with the sale of IGT to GTECH S.p.A.
Click here to learn how to join the action: http://www.ademilaw.com/case/igt or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
IGT's long-term financial outlook is very positive and yet IGT shareholders will receive the equivalent of only $18.25 for their shares. GTECH S.p.A. is well aware of IGT's improving financial metrics and is purchasing IGT at a substantial discount. The merger agreement unreasonably limits prospective bids for IGT by (i) prohibiting solicitation of any further bids, and (ii) imposing a termination penalty should IGT receive and accept a superior bid. IGT insiders, their affiliates and other majority shareholders own significant voting stock of IGT, and will receive millions of dollars as part of change of control arrangements, and therefore can unduly influence a sale of IGT not necessarily in the best interests of non-insider shareholders. In light of these facts, our investigation centers on the conduct of IGT's Board of Directors, who have unanimously approved the transaction, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for IGT given its current financial condition and prospects.
If you own securities of IGT and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, http://www.ademilaw.com/case/igt.
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