SOURCE: Levi & Korsinsky, LLP

Levi & Korsinsky, LLP

February 13, 2015 10:12 ET

SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Shareholders of Lakes Entertainment, Inc. of Pendency of Class Action Lawsuit in Connection With the Fairness of the Sale of the Company to Golden Gaming, LLC -- LACO

NEW YORK, NY--(Marketwired - Feb 13, 2015) - The following statement is being issued by Levi & Korsinsky, LLP:

TO: ALL PERSONS OR ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED COMMON STOCK OF LAKES ENTERTAINMENT, INC. (NASDAQ: LACO) PRIOR TO JANUARY 27, 2015 AND CONTINUE TO HOLD SUCH SHARES.

YOU ARE HEREBY NOTIFIED that a securities class action lawsuit has been commenced in Minnesota state court. If you purchased or otherwise acquired Lakes Entertainment common stock prior to January 27, 2015 and continue to hold your shares, YOUR RIGHTS MAY BE AFFECTED BY THIS ACTION.

Click here to learn more about the investigation: http://www.zlkdocs.com/LACO-Info-Request-Form-ma-2584.

The Board of Directors of Lakes Entertainment agreed to sell the Company to Golden Gaming. Under the terms of the transaction, Lakes Entertainment shareholders will receive stock in the new company valued at $9.57 for each share of Lakes Entertainment common stock they own. The claims concern whether the Board of Lakes Entertainment breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Golden Gaming is underpaying for Lakes Entertainment shares.

If you own Lakes Entertainment common stock and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlkdocs.com/LACO-Info-Request-Form-ma-2584.

Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information

  • Levi & Korsinsky, LLP
    Joseph Levi, Esq.
    Eduard Korsinsky, Esq.
    30 Broad Street - 24th Floor
    New York, NY 10004
    Tel: (212) 363-7500
    Toll Free: (877) 363-5972
    Fax: (866) 367-6510
    www.zlk.com