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Investor Looks To Halt $129M Fla. Casino Deal

Law360, Wilmington (February 8, 2013, 8:05 PM EST) -- A Florida Gaming Corp. investor launched a derivative suit in Delaware Chancery Court on Friday aimed at stopping the planned $129.4 million sale of its casino and jai alai operations, alleging the deal is stacked in favor of the father-son team behind the company.

Filed by shareholder Herbert Silverberg, the suit claims the sale of Florida Gaming's sole operating asset will bring the Miami-based company a lesser return than a previously rejected offer and serves instead to benefit Chairman W. Bennett Collett and CEO W. Bennett...
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