Chancery Urged To Make Empire Resorts Cough Up Deal Docs
By Rose Krebs (January 30, 2020, 9:54 PM EST) -- Investors told a Delaware vice chancellor Thursday that they need more records from Empire Resorts Inc. to probe possible wrongdoing related to the casino owner's $335 million go-private sale last year, including a possible leak of information that may have helped seal the deal.
During a one-day trial in Wilmington, counsel representing a trust that invested in Empire Resorts before its outstanding shares were sold to controlling shareholder Kien Huat Realty III Ltd. of Malaysia argued there was enough evidence to show a "credible basis" for further investigation of whether wrongdoing by company officers paved the way for Kien Huat to...
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