Ameristar Casinos, Inc. (ASCA) Is Investigated by Faruqi & Faruqi, LLP for Potential Breaches of Fiduciary Duties

NEW YORK--(BUSINESS WIRE)--Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Ameristar Casinos, Inc. (“Ameristar” or the “Company”) (NASDAQ: ASCA) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Pinnacle Entertainment, Inc. (NYSE: PNK) in an all-cash deal valued at approximately $2.8 billion. Under the terms of the proposed transaction, Ameristar’s stockholders will receive $26.50 in cash for each share of Ameristar common stock they own, while according to Yahoo! Finance, at least one financial analyst has set a price target of $29.00 for Ameristar.