Pomerantz is Lead Counsel in a class action investigating Eldorado Resorts, Inc. (ERI) (“Eldorado” or the “Company”) for potential violations of the federal securities laws.
On September 3, 2019, Eldorado filed a Form S-4 with the U.S. Securities and Exchange Commission (“SEC”) in connection with the proposed merger between Eldorado and Caesars Entertainment Corporation. In the Form S-4, the Company disclosed that several of its officers and directors received subpoenas from the SEC in May 2019 relating to an investigation of trading in the securities of another publicly traded company of which one of Eldorado’s directors was also a director. The New York Post subsequently reported that the undisclosed company referenced in the Form S-4 was IRadimed Corp. On this news, Eldorado’s stock price fell $3.09 per share, or 8.02%, to close at $35.42 per share on September 3, 2019.