NEW YORK, July 24, 2019 /PRNewswire/ -- WeissLaw
LLP is investigating possible breaches of fiduciary duty and
other violations of law by the Board of Directors of Speedway
Motorsports, Inc. ("TRK" or the "Company") (NYSE: TRK) in
connection with the proposed acquisition of the Company by a
subsidiary of Sonic Financial Corporation. Under the terms of
the agreement, TRK shareholders will receive $19.75 in cash for each TRK share they
own.
If you own TRK shares and wish to discuss this
investigation or have any questions concerning this notice or your
rights or interests, please contact:
Joshua Rubin,
Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
Visit our website
http://www.weisslawllp.com/speedway-motorsports-inc/
Or follow us on Twitter @MarketsAlert
WeissLaw is investigating whether TRK's Board acted to
maximize shareholder value prior to entering into the merger
agreement. Notably, the Company recently announced positive
financial results for the first quarter of 2019. It reported
total revenue of $107.9 million and
net income of $8.6 million,
representing annual increases of $31.9
million and $10.9 million,
respectively, when compared to the figures reported in the same
period of the previous year.
Given these facts, WeissLaw is concentrating its investigation
on whether the merger enhances TRK's shareholder value.
Specifically, WeissLaw is concerned whether TRK's Board conducted a
fair process in agreeing to the proposed merger, whether the
proposed merger undervalues the Company, and whether all material
information related to the proposed merger is fully and fairly
disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com
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SOURCE WeissLaw LLP
