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NASDAQ: GNOG Investor Notice: Lawsuit in connection with Takeover of Golden Nugget Online Gaming, Inc. filed

04-05-2022 10:14 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed by investors of Golden Nugget Online Gaming, Inc. (NASDAQ: GNOG) in connection with the proposed takeover.

A lawsuit was filed by investors of Golden Nugget Online Gaming, Inc. (NASDAQ: GNOG) in connection with the proposed takeover.

An investors in shares of Golden Nugget Online Gaming, Inc. (NASDAQ: GNOG), filed a lawsuit in connection with the takeover of Golden Nugget Online Gaming, Inc. by DraftKings Inc.

Investors who purchased shares of Golden Nugget Online Gaming, Inc. (NASDAQ: GNOG) and currently hold any of those NASDAQ: GNOG shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff seeks to get access to records regarding the takeover of Golden Nugget Online Gaming, Inc by DraftKings Inc. The plaintiffs say that they need to review the documents to determine if there was foul play when Golden Nugget Online Gaming, Inc and its controlling stockholder agreed to the takeover by Draftkings, Inc.
The plaintiffs say there could that be unfair benefits to the controlling stockholder in form of side benefits, and the information that was provided in connection with the takeover could have been materially misleading in numerous respects and could have omitted material facts.

On August 09, 2021, DraftKings Inc. (Nasdaq: DKNG) and Golden Nugget Online Gaming, Inc. (Nasdaq: GNOG) announced that they have entered into an agreement for DraftKings to acquire Golden Nugget Online Gaming in an all-stock transaction that has an implied equity value of approximately $1.56 billion. Under the terms of the proposed agreement, Golden Nugget Online Gaming, Inc. (NASDAQ: GNOG) stockholders are expected to receive a fixed ratio of 0.365 shares of DraftKings' common stock for each share of GNOG common stock they hold. Based on a closing price of $51.59 per NASDAQ: DKNG share on August 6, 2021, investors in Golden Nugget Online Gaming, Inc. (NASDAQ: GNOG) will receive a value of approximately $18.83 per NASDAQ: GNOG share

At least one analyst has set the high target price of $28.00 per NASDAQ: GNOG.

Golden Nugget Online Gaming, Inc. reported that its annual Total Revenue rose from $91.12 million in 2020 to $128.24 million in 2021, and that its Net Loss of $14.38 million in 2020 turned into a Net Income of $79.57 million in 2021.

Those who are current investors in Golden Nugget Online Gaming, Inc. (NASDAQ: GNOG) shares have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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