Investigation Overview
An investigation on behalf of current (long-term) investors in Gaylord Entertainment Company (NYSE: GET) shares over potential claims against certain of the current executive officers and directors of Gaylord Entertainment Co. (NYSE: GET) related to issues involving Gaylords operations and management announced.
According to the investigation by a law firm the investigation concerns statements in a press release issued by Gaylord Entertainment Co.s largest shareholder, TRT Holdings, Inc. The press release includes the text of an open letter to Gaylord shareholders identifying several areas in which Gaylord Entertainment has failed to adequately deliver, including a failure to operate the business with discipline and a lack of accountability to shareholders. Among other things, the letter details specific problems with the Gaylord Entertainments management and operations, including poor financial performance relative to peer group, excessive overhead, corporate waste, and excessive compensation. Gaylord Entertainment Company is a hospitality and entertainment company operating, through its subsidiaries. Gaylord Entertainment Company is located in Nashville, Tennessee and had $747.72million in total revenue with $111.91million net income in 2007 and $930.87million in total revenue with $4.36million net income in 2008. Shares of Gaylord Entertainment Company (NYSE: GET) closed on Friday, May 15, 2009 at $13.22 per share, down from a 52weekHigh of $36.27 per share and $56.89 per share in 2007.