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Casinos & Gaming

Affinity Gaming disputes lawsuit filed by shareholder

By HOWARD STUTZ LAS VEGAS REVIEW-JOURNAL
March 7, 2013 - 2:03 am
 

Affinity Gaming said Wednesday a lawsuit filed by its largest shareholder lacked merit.

In a statement, the Las Vegas-based casino company said it had not received the complaint, but viewed a regulatory filing about the allegations raised by Illinois-based private equity firm Z Capital Partners.

“The company and its board of directors believe that the claims brought by Z Capital are without merit and intend to defend against them vigorously,” Affinity said in statement.

Z Capital Partners filed a lawsuit Tuesday in Clark County District Court, saying changes in the company’s governance have breached fiduciary responsibility.

On Monday, Affinity announced that Z Capital withdrew its nonbinding proposal to acquire all of the outstanding common shares of Affinity Gaming.

Contact reporter Howard Stutz at hstutz@reviewjournal.com or 702-477-3871. Follow @howardstutz on Twitter.

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