|By PR Newswire||
|January 20, 2014 10:25 AM EST||
DALLAS, Jan. 20, 2014 /PRNewswire/ -- Deans & Lyons LLP lawyers are investigating the buyout by Apollo for CEC Entertainment (NYSE: CEC) due to an allegedly inadequate price and improper sale process. Stockholders concerned about the deal, which represents only an 11.5% premium, should contact Deans & Lyons stockholder rights lawyers by email at [email protected] or by phone at 214-499-0029.
"Apollo originally expressed an interest in purchasing CEC Entertainment for $55-56 per share," said shareholder rights lawyer Hamilton Lindley. "By permitting Apollo to purchase the company for $54 per share, the CEC board appears not to be fulfilling its duties to obtain the highest price reasonably available. The CEC Entertainment board also agreed to a poison pill that improperly locks up the transaction with Apollo. Our planned stockholder lawsuit seeks to remove these improper deal protections and fight for the highest price reasonably available."
Deans & Lyons has significant experience in securities litigation, obtaining millions for clients. Lawyers at the firm have also been recognized by their peers as "Super Lawyers" by Texas Monthly magazine and as some of the "Best Lawyers in Dallas" by D Magazine. Contact the firm at 877-819-8033 or [email protected].
SOURCE Deans & Lyons LLP