Shareholders Sue Sands Regent
As reported by the Reno Gazette-Journal: "Shareholders unhappy with The
Sands Regent's deal to sell to Herbst Gaming of Las Vegas for $148 million
are suing and asking for a better price, according to court documents. "The
deal announced last month would give shareholders $15 per share, but the
complaint filed in Washoe District Court calls the price 'grossly inadequate
and unfair.' "'The realizable value from growth and a recovery of the
company's historic performance, as well as the Reno tourism projections, is
far in excess of $15 per share,' the class-action complaint states."
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