TRK - NYSE: TRK Investor Notice: Lawsuit against Acquisition of Speedway Motorsports Inc. announced by Shareholders Foundation

SAN DIEGO, CA / ACCESSWIRE / September 9, 2019 / The Shareholders Foundation, Inc. announces that a lawsuit was filed for investors who purchased shares of Speedway Motorsports, Inc. (NYSE:TRK) shares.

Investors, who purchased shares of Speedway Motorsports, Inc. (NYSE:TRK) prior to July 24, 2019, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On July 24, 2019, Speedway Motorsports, Inc. (NYSE:TRK) and Sonic Financial Corporation announced that they, along with a wholly owned acquisition subsidiary of Sonic Financial Corporation, have entered into a merger agreement for Sonic Financial Corporation’s subsidiary to acquire all of the outstanding shares of common stock of Speedway Motorsports, Inc for cash consideration of $19.75 per share. Sonic Financial Corporation, O. Bruton Smith, his family and related entities beneficially own, directly or indirectly, approximately 29 million shares of the Company, and control already over 71% of the voting power of Speedway Motorsports, Inc.

On August 16, 2019, Speedway Motorsports, Inc filed a Solicitation/Recommendation Statement with the United States Securities and Exchange Commission (“SEC”) in connection with the Proposed Transaction.

On August 29, 2019, a lawsuit was filed in connection with the takeover of Speedway Motorsports, Inc by Sonic Financial Corporation. The plaintiff alleges that the Solicitation Statement omits material information with respect to the Proposed Transaction, which renders the Solicitation Statement false and misleading.

Those who purchased shares of Speedway Motorsports, Inc. (NYSE:TRK) have certain options and should contact the Shareholders Foundation, Inc.

CONTACT:

Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.

SOURCE: Shareholders Foundation, Inc.