|[July 02, 2014]
SHAREHOLDER ALERT: Brower Piven Announces The Investigation Of Sport Chalet, Inc. In Connection With The Proposed Sale Of The Company To Vestis Retail Group, LLC
STEVENSON, Md. --(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. he 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
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 email@example.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.
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