NEW YORK, July 24, 2019 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Speedway Motorsports, Inc. ("TRK" or the "Company") (TRK) in connection with the proposed acquisition of the Company by a subsidiary of Sonic Financial Corporation. Under the terms of the agreement, TRK shareholders will receive $19.75 in cash for each TRK share they own.
If you own TRK 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 TRK's Board acted to maximize shareholder value prior to entering into the merger agreement. Notably, the Company recently announced positive financial results for the first quarter of 2019. It reported total revenue of $107.9 million and net income of $8.6 million, representing annual increases of $31.9 million and $10.9 million, respectively, when compared to the figures reported in the same period of the previous year.
Given these facts, WeissLaw is concentrating its investigation on whether the merger enhances TRK's shareholder value. Specifically, WeissLaw is concerned whether TRK's 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 firstname.lastname@example.org
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