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Howard Stutz
 

Affinity Gaming disputes lawsuit filed by shareholder

7 March 2013

LAS VEGAS -- 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.