Shareholders Sue Harrah's Over Bond Exchanges

Law360, New York (January 12, 2009, 12:00 AM EST) -- Shareholders have filed a proposed class action lawsuit against casino chain Harrah’s Entertainment Inc. for allowing a select pool of investors to cash in on senior notes and purchase high-priority notes as the company heads toward insolvency.

S. Blake Murchison and Willis Shaw filed the suit against Harrah’s on Friday in the U.S. District Court of Delaware, maintaining that the company illegally limited bond exchange offers to “qualified institutional buyers” and “certain non-U.S. investors located outside the United States," leaving other investors vulnerable to the possibility...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Yokeno v. Sekiguchi et al


Case Number

1:09-cv-00020

Court

Guam

Nature of Suit

P.I.: Other

Judge

Frances M. Tydingco-Gatew

Date Filed

July 30, 2009

Law Firms

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.