TAKE A LOOK AT WHICH REPORT YOUR PORTFOLIO'S BEEN MISSING...

Shareholders Foundation offers real-time reporting of class action exposure on a per transaction basis,
including the documents you will need for claim filing and settlement recovery.
Start Monitoring Your Investments

Eldorado Resorts, Inc. (NASDAQ: ERI) Investor Securities Class Action Lawsuit 09/23/2019

  • If you purchased shares of Eldorado Resorts, Inc. (NASDAQ: ERI), you may have certain options. Please contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Case Dismissed
Company
Eldorado Resorts Inc
Security
NASDAQ: ERI

Case Name
Eldorado Resorts Shareholder Class Action 09/23/2019
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the District of New Jersey

Class Period Begin
Class Period End
Deadline To File for Lead
You must register or login to receive notifications.

Click here to subscribe to Eldorado Resorts Inc.
Summary

March 17, 2020 - The case was voluntarily dismissed.

September 23, 2019 - An investor in shares of Eldorado Resorts, Inc. (NASDAQ: ERI) filed a lawsuit in the U.S. District Court for the District of New Jersey over alleged violations of Federal Securities Laws by Eldorado Resorts, Inc. in connection with certain allegedly false and misleading statements made between March 1, 2019 and September 2, 2019.

Reno, NV based Eldorado Resorts, Inc. operates as a gaming and hospitality company in the United States. Eldorado Resorts, Inc. reported that its annual Total Revenue rose from over $1.48 billion in 2017 to over $2.05 billion for the 2018 and that its Net Income increased from $73.38 million in 2017 to $95.23 million in 2018. Shares of Eldorado Resorts, Inc. (NASDAQ: ERI) rose from $15.35 per share in early 2017 to as high as $52.49 per share in June 2019.

On September 3, 2019, Eldorado Resorts, Inc. disclosed that CEO Tom Reeg, chief operating officer and president Anthony Carano, executive chairman Gary Carano and board member James Hawkins had received subpoenas in May relating to an ongoing investigation of the executives trading in an undisclosed company tied to Hawkins. Share of Eldorado Resorts, Inc. (NASDAQ: ERI) declined to $35.41 per share on September 3, 2019.

According to the complaint the plaintiff alleges on behalf of purchasers of Eldorado Resorts, Inc. (NASDAQ: ERI) common shares between March 1, 2019 and September 2, 2019, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between March 1, 2019 and September 2, 2019, the defendants made false and/or misleading statements and/or failed to disclose that several of the Company’s executive officers, including CEO Thomas Reeg, engaged in improper trading with respect to the securities of another publicly-traded company, and that as a result, Defendants’ statements about Eldorado’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.