|By PR Newswire||
|January 17, 2014 12:00 PM EST||
NEW YORK, Jan. 17, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of CEC Entertainment, Inc. ("CEC" or the "Company") (NYSE: CEC) (ISIN: US1251371092) (CUSIP: 125137109) concerning the proposed acquisition of CEC by an Affiliate of Apollo Global Management, whereby Apollo will acquire the Company in a transaction valued at approximately $1.3 billion, including the assumption of the Company's outstanding debt.
The investigation concerns whether the CEC directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, CEC shareholders will receive $54.00 per share in cash for each share of CEC common stock. However, the Price to EBIT and EBITDA multiples are below the average of comparable transactions.
CEC shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at [email protected] or 212-661-1100 or 888-476-6529, ext. 237.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and San Diego, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.
212-661-1100 ext. 237
SOURCE Pomerantz LLP