BUYOUT OF WMS - LAW FIRM SEEKS HIGHER PRICE FOR SHAREHOLDERS
January 31, 2013
New York, New York
Tripp Levy PLLC, a leading national securities law firm, announces that it is investigating the acquisition of WMS Industries. It was announced that Scientific Games will acquire all of the outstanding shares of WMS for $26.00 per share in cash, for a total enterprise value of approximately $1.5 billion, including debt of $85 million and cash on hand of $55 million as of September 30, 2012.
The investigation concerns whether the board of directors of WMS breached their fiduciary duties by not engaging in a full and fair auction of the company so that shareholders can obtain the highest price, while not obtaining personal benefits for themselves. Further, Scientific is utilizing the companys cash to help pay for the merger, which comes out to over $1 per share, which shareholders should get through a special dividend.
If you are a shareholder of WMS and would like additional informatin regarding this matter, at no cost, please contact us toll free at 1-877-772-3975 or email at contact @ tripplevy
Its extortion. They will get the company to settle for a couple of million and walk away. #$%$ lawyers. And you wonder why this world is screwed up and people and business are going off-shore? So what if you bought above the buyout, that is why its called risk. Remember the immortal words - Investing in stocks entails risk, no guarantee of principal preservation. I hate them.