NEW YORK, July 22, 2019 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Peak Resorts, Inc. ("SKIS" or the "Company") (SKIS) in connection with the proposed acquisition of the Company by Vail Resorts, Inc. (MTN). Under the terms of the agreement, SKIS shareholders will receive $11.00 in cash for each SKIS share they own.
If you own SKIS shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
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WeissLaw is investigating whether SKIS' Board acted to maximize shareholder value prior to entering into the merger agreement. Notably, the Company recently announced record-breaking financial results. It reported revenue of $184.42 million for the year ended April 30, 2019, representing an increase of $52.76 million over the $131.66 million reported in the same period of the previous year. According to SKIS' President and CEO, "[f]iscal 2019 was a record year for [SKIS] . . . Revenue and Reported EBITDA grew 53% and 72% year over year in the fiscal 2019 fourth quarter, respectively, as we generated organic revenue and Reported EBITDA growth of a respective 11% and 14%."
Given these facts, WeissLaw is concentrating its investigation on whether the merger enhances SKIS' shareholder value. Specifically, WeissLaw is concerned whether SKIS' Board conducted a fair process in agreeing to the proposed merger, whether the proposed merger undervalues the Company, and whether all material information related to the proposed merger is fully and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com
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