WILMINGTON, Del., Aug. 11, 2021 (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 Golden Nugget Online Gaming, Inc. (NASDAQGM: GNOG) (“Golden Nugget” or the “Company”) relating to the merger of the Company with DraftKings, Inc. (“DraftKings”). The two parties have announced that they reached an agreement in principle pursuant to which Golden Nugget will merge with DraftKings. Under the terms of merger, Golden Nugget shareholders will receive a fixed ratio of 0.365 shares of newly issued DraftKings Class A common stock for each share of Golden Nugget owned. Upon completion of the merger, Golden Nugget will be significantly diluted owning only 7% of the combined company.
Andrews & Springer’s investigation so far has revealed that Golden Nugget’s existing shareholders will be unfairly diluted as a result of the merger. Our Firm's investigation also has discovered that the merger appears to have significant conflicts of interest, thus making the process and consideration unfair.
If you own shares of Golden Nugget and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/golden-nugget-class-action-investigation/ 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.
Contact:
Craig J. Springer, Esq.
cspringer@andrewsspringer.com
Toll Free: 1-800-423-6013
