WILMINGTON, Del., Sept. 8, 2014 (GLOBE NEWSWIRE) -- Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against the Board of Directors of Multimedia Games Holding Company, Inc. ("Multimedia Games" or the "Company") relating to the sale of the Company to Global Access Cash Holdings, Inc. ("Global Access"). On September 8, 2014, the two companies announced the signing of a definitive merger agreement pursuant to which Global Access will acquire Multimedia Games in a merger in a deal worth $1.2 billion. As a result of the merger, Multimedia Games shareholders are only anticipated to receive $36.50 per share in cash in exchange for each share of Multimedia Games.
Andrews & Springer's investigation has uncovered that the consideration Multimedia Games shareholders are expected to receive is inadequate. Analysts at Yahoo! Finance have set a $37.00 per share price target for Multimedia Games.
Andrews & Springer is also investigating whether Multimedia Games' directors are breaching their fiduciary duties by failing to adequately shop the company and maximize shareholder value. Andrews & Springer is also investigating the fairness of the sales process conducted by Wells Fargo Securities.
If you own shares of Multimedia Games and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/MGAM or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.