Golfsmith International Holdings, Inc. Merger Litigation (Nasdaq: GOLF)
Law Office of Brodsky & Smith, LLC Announces Investigation of Golfsmith International Holdings, Inc.
BALA CYNWYD, May 15, 2012/PR Newswire/ –Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Golfsmith International Holdings, Inc. (“Golfsmith” or the “Company”) (Nasdaq- Golf-News) relating to the proposed acquisition by Golf Town (“Golf Town”).
Under the terms of the transaction, Golfsmith shareholders would receive only $6.10 in cash for each share of Golfsmith stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Golfsmith for not acting in the Company’s shareholders' best interests in connection with the sale process to Golf Town. The transaction may undervalue Golfsmith as an analyst has set a price target for Golfsmith stock at $7.50 per share. In addition, both the CEO and President of Golfsmith are expected to have the same positions in the surviving corporation upon closure of the transaction.
If you own shares of Golfsmith stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at firstname.lastname@example.org, or by calling toll free 877-LEGAL-90.
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