Caesars World sued takeover suitor Sosnoff.
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The Los Angeles-based operator of casinos in Nevada and New Jersey alleges that the New York money manager violated federal securities laws and federal margin regulations in his unsolicited $28-per-share tender offer for the company’s stock. The suit, filed in U.S. District Court here, alleges that Martin T. Sosnoff, who already has a 13.4% stake, made false and misleading statements in his offering. The complaint also alleges that Sosnoff’s offer is designed to boost the value of his shares.
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