BENSALEM, Pa.–(BUSINESS WIRE)–$ERI–Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Eldorado Resorts, Inc. (“Eldorado” or the “Company”) (NASDAQ: ERI) securities between March 1, 2019 and September 2, 2019, inclusive (the “Class Period”). Eldorado investors have until November 22, 2019 to file a lead plaintiff motion.
Investors suffering losses on their Eldorado investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [email protected].
On September 3, 2019, Eldorado revealed that CEO Tom Reeg, president and chief operating officer Anthony Carano, executive chairman Gary Carano, and director James Hawkins had received subpoenas in May pertaining to an ongoing investigation of the executives trading in an undisclosed company tied to James Hawkins.
On this news, Eldorado’s share price fell $3.09, or over 8%, to close at $35.42 on September 3, 2019, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that several of the Company’s executive officers, including CEO Thomas Reeg, engaged in improper trading with respect to the securities of another publicly-traded company; and (2) that as a result, Defendants’ statements about Eldorado’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
If you purchased Eldorado securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
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