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If you purchased shares of Archon Corporation (PINK:ARHN) prior to April 15, 2013, and currently hold any of those PINK:ARHN shares, you have certain options and you should contact the Shareholders Foundation, Inc.
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To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Investigation Overview
April 16, 2013 (Shareholders Foundation) - An investigation on behalf of investors in Archon Corporation (PINK:ARHN) shares was announced concerning whether the offer by Esplanade Capital LLC to acquire Archon Corporation for $17.50 per PINK:ARHN share and the takeover process are unfair to investors in Archon Corporation shares.
The investigation by a law firm concerns whether certain officers and directors of Archon Corporation breach their fiduciary duties owed to PINK:ARHN investors in connection with the proposed acquisition.
On April 15, 2013, Esplanade Capital LLC has made an offer to acquire all outstanding shares of Archon Corporation at a price of $17.50 per share in a negotiated transaction, subject to confirmatory due diligence.
However, the investigation a law firm concerns whether the offer is too low for PINK:ARHN stockholders. More specifically, the investigation focuses on whether the Archon Board of Directors undertakes an adequate sales process, adequately shops the company before entering into the transaction, maximizes shareholder value by negotiating the best price, and acts in the shareholders' best interests in connection with the proposed sale.
