International Game Technology Shareholder Alert: Bernstein Liebhard LLP Announces Investigation of Acquisition By GTECH S.p.A.
July 17, 2014
Bernstein Liebhard LLP is investigating whether the Board of Directors of International Game Technology (“IGT” or the “Company”) (NYSE: IGT) breached its fiduciary duty to its shareholders in agreeing to sell IGT to GTECH S.p.A. (“GTECH”).
Under the terms of the transaction, IGT and GTECH will combine under a newly formed holding company organized in the United Kingdom (“NewCo”). IGT shareholders will receive $13.69 in cash plus 0.1819 ordinary shares of NewCo in cash for each share they own. GTECH shareholders will exchange each of their existing GTECH shares for one (1) newly issued NewCo share. The investigation is focused on the potential unfairness of the price to IGT shareholders and the process by which the IGT Board of Directors considered and approved the transaction.
Bernstein Liebhard LLP has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3 billion for its clients. It has been named to The National Law Journal’s “Plaintiffs’ Hot List” in each of the last twelve years.