Eldorado Resorts, Inc. (NASDAQ: ERI) Investor Securities Class Action Lawsuit 09/23/2019

If you purchased a significant amount of shares of Eldorado Resorts, Inc. (NASDAQ: ERI) between March 1, 2019 and September 2, 2019, and / or if you purchased any NASDAQ: ERI shares prior to March 2019 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: November 22, 2019. NASDAQ: ERI investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Eldorado Resorts
Case Name: 
Eldorado Resorts Shareholder Class Action 09/23/2019
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: ERI
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
09/23/2019
Class Period Begin: 
03/01/2019
Class Period End: 
09/02/2019
Court of Filing: 
U.S. District Court for the District of New Jersey
Deadline To File for Lead: 
11/22/2019
Summary: 

An investor in shares of Eldorado Resorts, Inc. (NASDAQ: ERI) filed a lawsuit in the U.S. District Court for the District of New Jersey over alleged violations of Federal Securities Laws by Eldorado Resorts, Inc. in connection with certain allegedly false and misleading statements made between March 1, 2019 and September 2, 2019.

Reno, NV based Eldorado Resorts, Inc. operates as a gaming and hospitality company in the United States. Eldorado Resorts, Inc. reported that its annual Total Revenue rose from over $1.48 billion in 2017 to over $2.05 billion for the 2018 and that its Net Income increased from $73.38 million in 2017 to $95.23 million in 2018. Shares of Eldorado Resorts, Inc. (NASDAQ: ERI) rose from $15.35 per share in early 2017 to as high as $52.49 per share in June 2019.

On September 3, 2019, Eldorado Resorts, Inc. disclosed that CEO Tom Reeg, chief operating officer and president Anthony Carano, executive chairman Gary Carano and board member James Hawkins had received subpoenas in May relating to an ongoing investigation of the executives trading in an undisclosed company tied to Hawkins.

Share of Eldorado Resorts, Inc. (NASDAQ: ERI) declined to $35.41 per share on September 3, 2019.

According to the complaint the plaintiff alleges on behalf of purchasers of Eldorado Resorts, Inc. (NASDAQ: ERI) common shares between March 1, 2019 and September 2, 2019, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between March 1, 2019 and September 2, 2019, the defendants made false and/or misleading statements and/or failed to disclose 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 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. When the true details entered the market, the lawsuit claims that investors suffered damages.