Eldorado Resorts, Inc
Bernstein Liebhard, a nationally acclaimed investor rights law firm, announces that a securities class action has been filed on behalf of investors that purchased or acquired the securities of Eldorado Resorts Inc. (“Eldorado” or the “Company”) (NYSE: ERI) between March 1, 2019 and September 2, 2019, inclusive.
If you purchased Eldorado securities, and/or would like to discuss your legal rights and options, please click “Join Class Action” above.
New York, New York — Bernstein Liebhard, a nationally acclaimed investor rights law firm, announces that a securities class action has been filed on behalf of investors that purchased or acquired the securities of Eldorado Resorts Inc. (“Eldorado” or the “Company”) (NYSE: ERI) between March 1, 2019 and September 2, 2019, inclusive (the “Class Period”). The lawsuit filed in the United States District Court for the District of New Jersey alleges violations of the Securities Exchange Act of 1934.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) several of the Company’s executive officers, including Defendant Reeg, engaged in improper trading with respect to the securities of another publicly-traded company; and (2) as a result, Defendants’ statements about the Eldorado’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On September 3, 2019, Eldorado Resorts filed a Form S-4 with the SEC in connection with the proposed merger between the Company and Casers Entertainment Corporation (the “2019 S-4”). In the 2019 S-4, the Company disclosed that several of its officers received a subpoena from the SEC in May 2019 relating to an investigation of trading in securities of another publicly traded company. Defendant Reeg, Gary Carano, the Company’s former CEO and current Executive Chairman, Anthony Carano, the Company’s President and Chief Operating Officer, and James Hawkins, a member of the Eldorado board, each received a subpoena.
On this news, shares of Eldorado fell by $3.09 or 8%, to close at $35.42 on September 3, 2019.
If you wish to serve as lead plaintiff, you must move the Court no later than November 22, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.
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