INVESTOR ALERT: Faruqi & Faruqi, LLP Announces the Investigation of Sport Chalet, Inc. (SPCHA) (SPCHB) Over the Proposed Sale of the Company to Vestis Retail Group, LLC.
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Sport Chalet, Inc.
NEW YORK--(BUSINESS WIRE)--Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Sport Chalet, Inc. (“Sport Chalet” or the “Company”) (NasdaqGM: SPCHA) (NasdaqGM: SPCHB) for potential breaches of fiduciary duties in connection with the sale of the Company to Vestis Retail Group. The Company’s stockholders will receive $1.20 for each Class A and Class B share of Sport Chalet they own. However, the price could be reduced to $1.04 per share if certain terms of the Tender Offer are not met.
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The investigation focuses on whether Sport Chalet’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Sport Chalet’s shareholders.
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If you own common stock in Sport Chalet and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/SPCHA or contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.
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