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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Speedway Motorsports, Inc. (“Speedway” or the “Company”) (NYSE: TRK) to Sonic Financial Corporation (“Sonic Financial”). Under the terms of the deal, a subsidiary of Sonic Financial will acquire all of the outstanding shares of common stock of the Company for cash consideration of $19.75 per share.
The Speedway merger investigation concerns whether the Board of Speedway breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Sonic Financial is underpaying for Speedway shares, thus unlawfully harming Speedway shareholders.
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