Barr v. Harrah's Entertainment, Inc.

OPINION

SLOVITER, Circuit Judge.

Appellant Wallace Barr brought this class action on behalf of himself and certain other former officers, directors, and employees of Caesars Entertainment, Inc. (“Caesars”) against appellee Harrah’s Entertainment, Inc. (“Harrah’s”), alleging breach of contract and seeking specific performance. After Caesars and Harrah’s entered into a merger agreement in 2004, Barr and the remaining class members *178elected to cash out their stock options in Caesars. According to Barr, the class is entitled to over $20 million because the cash-out price was inadequate. The District…