San Diego, CA -- (SBWire) -- 03/23/2016 --An investigation for shareholders of Carmike Cinemas, Inc. (NASDAQ:CKEC), was announced concerning the buyout of Carmike Cinemas, Inc. by AMC Theatres for $30.00 per share.
Investors who purchased shares of Carmike Cinemas, Inc. (NASDAQ:CKEC) and currently hold any of those NASDAQ:CKEC shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain directors of Carmike Cinemas, Inc. breached their fiduciary duties owed to NASDAQ:CKEC investors in connection with the proposed acquisition.
On March 3, 2016, AMC Theatres (AMC Entertainment Holdings, Inc.) ) and Carmike Cinemas, Inc. (NASDAQ:CKEC) announced they have entered into a merger agreement pursuant to which AMC Theatres will acquire all of the outstanding shares of Carmike Cinemas, Inc. (NASDAQ:CKEC) for $30.00 per share in cash.
However, given that at least one analyst has set the high target price for NASDAQ:CKEC shares at $36.00 per share and given that NASDAQ:CKEC shares traded in early 2015 as high as $34.55 per share, the investigation concerns whether the offer is unfair to NASDAQ:CKEC stockholders. More specifically, the investigation concerns whether the Carmike Cinemas Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
On March 21, 2016, NASDAQ:CKEC shares closed at $29.67 per share.
Those who are current investors in Carmike Cinemas, Inc. (NASDAQ:CKEC) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
Carmike Cinemas, Inc. (NASDAQ:CKEC) Shareholder Alert: Investigation over Potential Wrongdoing in Buyout
An investigation on behalf of investors in NASDAQ:CKEC shares in connection with the proposed takeover was announced and NASDAQ:CKEC stockholders should contact the Shareholders Foundation.