INVESTOR ALERT: The Law Office of Jack Stuart Beige & Associates, P.C. Announces Investigation of PokerTek, Inc. Buyout Proposal
SMITHTOWN, NY, May 2, 2014:
The Law Office of Jack Stuart Beige & Associates, P.C. announces that it is investigating the Board of Directors of PokerTek, Inc.(“PokerTek”) (NASDAQ CM: PTEK) for possible breaches of fiduciary duties and other violations of law in connection with PokerTek’s agreement to be acquired by Multimedia Games Holding Company, Inc. (“Multimedia”)(NASDAQ GS: MGAM), in a transaction valued at approximately $12.6 million.
Under the terms of the agreement, public shareholders of PokerTek will receive $1.35 per share in cash for each share of PokerTek they own.
The investigation concerns whether PokerTek’s Board of Directors breached its fiduciary duties to stockholders, whether the proposed consideration to be paid to PokerTek’s stockholders would be fair and adequate, and whether PokerTek is acting in its stockholders’ best interests.