NEW YORK, July 1, 2014 /PRNewswire/ -- Pomerantz LLP
is investigating claims on behalf of investors of Sport Chalet,
Inc. ("Sport Chalet" or the "Company") (NASDAQ: SPCHA, SPCHB)
(ISIN: US8491632092, US8491633082) (CUSIP: 849163209, 849163308)
concerning the proposed acquisition of Sport Chalet by Vestis
Retail Group ("Vestis").
Sport Chalet shareholders seeking more information about this
acquisition are advised to contact Robert
Willoughby at rswilloughby@pomlaw.com or 212-661-1100 or
888-476-6529, ext. 237.
The investigation concerns whether the Sport Chalet directors
are breaching their fiduciary duties by failing to adequately shop
the Company and maximize shareholder value. 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. However, the Price to Revenue and Total Assets
multiples are below the averages of comparable transactions.
Pomerantz LLP, with offices in New
York, Chicago, Florida, and San
Diego, is acknowledged as one of the premier firms in the
areas of corporate, securities, and antitrust class litigation.
Founded by the late Abraham L.
Pomerantz, known as the dean of the class action bar, the
Pomerantz LLP pioneered the field of securities class actions.
Today, more than 75 years later, the Pomerantz LLP continues in the
tradition he established, fighting for the rights of the victims of
securities fraud, breaches of fiduciary duty, and corporate
misconduct. The Firm has recovered numerous multimillion-dollar
damages awards on behalf of defrauded investors. See
www.pomerantzlaw.com.
CONTACT:
Robert
Willoughby
Pomerantz LLP
212-661-1100 ext. 237
rswilloughby@pomlaw.com
SOURCE Pomerantz LLP