SPORT CHALET SHAREHOLDER ALERT: Former SEC Attorney Willie Briscoe & Powers Taylor LLP Believe the Sale to Vestis May be Unfa...
July 15 2014 - 3:30PM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe and the securities litigation firm of Powers Taylor
LLP are investigating potential claims against the Board of
Directors of Sport Chalet, Inc. (“Sport Chalet”) (NasdaqGM: SPCHA)
(NasdaqGM: SPCHB) concerning the sale to Vestis Retail Group. Under
the terms of the agreement, Sport Chalet shareholders will only
receive $1.20 in cash for each Class A and Class B shares owned,
which is well below the 52-week high of $1.56 (SPCHA) and $1.62
(SPCHB).
If you are an affected investor, and you want to learn more
about the investigation or if you have information that you believe
would be helpful to our investigation of the fairness of the
proposed transaction, contact Willie Briscoe at The Briscoe Law
Firm, PLLC, (214) 239-4568, or via email at
WBriscoe@TheBriscoeLawFirm.com, or Patrick Powers at Powers Taylor
LLP, toll free (877) 728-9607, via e-mail at
shareholder@powerstaylor.com. There is no cost or fee to you.
The investigation centers on whether Sport Chalet’s Board of
Directors is acting in the shareholders’ best interests, whether
the board considered alternatives to the acquisition, and whether
the board has employed an adequate process to review and act on the
proposed transaction. Notably, at least one analyst with Yahoo!
Finance believes the true inherent value of SPCHB could be as high
as $1.25.
The Briscoe Law Firm, PLLC is a full service business litigation
and shareholder rights advocacy firm with more than 20 years of
experience in complex litigation and transactional matters.
Powers Taylor LLP is a boutique litigation law firm that handles
a variety of complex business litigation matters, including claims
of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
The Briscoe Law Firm, PLLCWillie Briscoe,
214-239-4568WBriscoe@TheBriscoeLawFirm.comorPowers Taylor
LLPPatrick Powers, 877-728-9607shareholder@powerstaylor.com
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