BUYOUT OF SPORT CHALET - LAW FIRM SEEKS HIGHER PRICE FOR SHAREHOLDERS
Tripp Levy PLLC a leading national securities and shareholder rights law firm announces that it is investigating the acquisition of Sport Chalet Inc. Vestis Retail Group, announced today that it has signed a definitive agreement to acquire Sport Chalet (SPCHA) (SPCHB)
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 investigation concerns whether the senior executives and board of directors of Sport Chalet engaged in a full and fair auction and process to insure that shareholders received the maximum value for their shares, whether the price of $1.20 is unfairly low, and whether the senior executives are receiving personal benefits for their own self interests that are not being shared with other common shareholders.
If you are a shareholder of Sport Chalet and would like additional information regarding this matter at no cost or expense please contact us toll free at 1-800-511-7037 or visit our website at tripplevy.
Well said!! They DID NOT (IMHO). $16M equity market cap with $45M in debt with $250M in Sales?!? (all on Yahoo Finance). Hope they lose their jobs over this............But IF they get away with it, then America is on the decline. Sham, sham, sham.........Let's hope this leads to Litigation, litigation, litigation.....All JMHO, great luck to all..........