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Stock Market & Financial Investment News

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August 8, 2014
06:13 EDTCZRCaesar's files complaint against investors for thwarting restructuring efforts
Caesars and its subsidiary, Caesars Entertainment Operating Company, filed suit in the Supreme Court of New York, New York County against certain institutional investors who they believe have sought to injure them by attempting to thwart CEOC's restructuring efforts through actions apparently designed to push CEOC into default. The complaint states that Caesars and CEOC believe some creditors are motivated to act against the best interest of the enterprise and other creditors to inflate the value of credit default swap positions or improve other unique securities positions. The complaint names certain institutional investors who hold second-lien notes issued by CEOC, along with Elliott Management Corporation, which holds first-lien notes. Caesars and CEOC believe Elliott holds a significant CDS position. The complaint alleges that second-lien holders served CEOC with a baseless notice of default. The complaint seeks declaratory and injunctive relief to prevent further damage to Caesars and CEOC. The complaint also seeks damages from the defendants.
News For CZR From The Last 14 Days
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July 1, 2015
08:10 EDTCZRCaesar's appoints Mark Frissora as President and CEO
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June 30, 2015
06:47 EDTCZRCaesar’s CEO Loveman: I faced ‘every imaginable human catastrophe,’ WSJ says
Caesar's CEO Gary Loveman defended his tenure with the company after its leveraged buyout in January 2012, saying that he faced “every imaginable human catastrophe” while on the job, including “floods, hurricanes, building collapses, murders,” the Wall Street Journal reports. “This job has made me numb,” Loveman said at a speech at Stanford University in 2012, the report says. Reference Link
June 26, 2015
09:32 EDTCZRNevada reports May Statewide gaming win up 3.33% to $1.0B
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