SHAREHOLDER ALERT: Brower Piven Announces The Investigation Of Sport Chalet, Inc. In Connection With The Proposed Sale Of The...
July 09 2014 - 11:07AM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, has commenced an investigation into
possible breaches of fiduciary duty and other violations of state
law by the board of directors of Sport Chalet, Inc. (“Sport Chalet”
or the “Company”) (NASDAQ: SPCHA, SPCHB) relating to the proposed
buyout of the Company by Vestis Retail Group, LLC (“Vestis”).
On June 30, 2014, Vestis announced that it had signed a
definitive agreement to acquire Sport Chalet. Under the terms of
the agreement, an affiliate of Vestis will commence a cash tender
offer for all of the outstanding Class A and Class B shares of
Sport Chalet for $1.20 per share. The firm’s investigation seeks to
determine, among other things, whether the Company’s board of
directors breached their fiduciary duties by failing to maximize
shareholder value before agreeing to enter into this transaction,
and whether Vestis is underpaying for Sport Chalet shares.
If you currently own common stock of Sport Chalet and would like
to learn more about the investigation being conducted by Brower
Piven, without cost or obligation to you, please visit our website
at http://www.browerpiven.com/currentinvestigations.html. You may
also request more information by contacting Brower Piven either by
email at hoffman@browerpiven.com or by telephone at (410)
415-6616.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s.
Brower Piven, A Professional Corporation1925 Old Valley
RoadStevenson, Maryland 21153Charles J. Piven,
410-415-6616hoffman@browerpiven.com
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