PHILADELPHIA, Aug. 05, 2019 (GLOBE NEWSWIRE) -- Kaskela Law LLC announces that it is investigating Speedway Motorsports, Inc. ("Speedway") TRK on behalf of the company's stockholders.
On July 24, 2019, Speedway announced that it had entered into a merger agreement with Sonic Financial Corporation ("Sonic Financial"), which currently owns or controls approximately 71% of Speedway's shares. According to the announcement, Sonic Financial will seek to acquire all of Speedway's outstanding shares of common stock at a price of $19.75 per share in cash.
The investigation seeks to determine (i) whether $19.75 per share represents adequate consideration for Speedway's stockholders and (ii) whether Speedway's stockholders are receiving all material information in connection with the proposed transaction.
Speedway stockholders are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (484) 258-1585 or (888) 715-1740, or via email at skaskela@kaskelalaw.com, to discuss this investigation and their legal rights and options. Additional information may also be requested online at http://kaskelalaw.com/case/speedway-motorsports-inc/.
Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and merger & acquisition litigation. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com. This notice may constitute attorney advertising in certain jurisdictions.
CONTACT:
D. Seamus Kaskela, Esq.
KASKELA LAW LLC
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(484) 258 – 1585
(888) 715 – 1740
www.kaskelalaw.com
skaskela@kaskelalaw.com
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
