Rigrodsky & Long, P.A. Announces Investigation of Sport Supply Group, Inc.
March 15 2010 - 5:27PM
Business Wire
Rigrodsky & Long, P.A. announces that it is investigating
potential claims against the board of directors of Sport Supply
Group, Inc. (“Sport Supply” or the “Company”) (Nasdaq: RBI)
concerning possible breaches of fiduciary duty and other violations
of law related to the Company’s entry into an agreement to be
acquired by ONCAP Management Partners, L.P. (“ONCAP”) in a
transaction valued at approximately $173 million.
Under the proposed agreement, Sport Supply shareholders will
receive $13.55 per share for each share of Sport Supply common
stock they own. Furthermore, CBT Holdings, LLC, an affiliate of
Andell Holdings (“CBT”), which beneficially owns approximately 16%
of Sport Supply Group’s outstanding common stock, and certain
members of Sport Supply’s management team, have entered into
agreements with ONCAP to exchange their Sport Supply common stock
and options, as applicable, for equity of the purchaser entity. In
addition, Carlson Capital, L.P., which beneficially owns
approximately 22% of Sport Supply’s outstanding common stock, and
CBT, have each entered into a voting agreement with ONCAP, and have
each agreed to vote their shares in favor of the adoption of the
merger agreement.
If you own the common stock of Sport Supply and purchased your
shares before March 15, 2010, if you have information or would like
to learn more about these claims, or if you wish to discuss these
matters or have any questions concerning this announcement or your
rights or interests with respect to these matters, please contact
Seth D. Rigrodsky, Esquire or Noah R. Wortman, Case Development
Director, of Rigrodsky & Long, P.A., 919 N. Market Street,
Suite 980, Wilmington, Delaware, by telephone at (888) 969-4242, or
by e-mail to info@rigrodskylong.com.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware
and Garden City, New York, regularly litigates securities class,
derivative and direct actions, shareholder rights litigation and
corporate governance litigation, including claims for breach of
fiduciary duty and proxy violations in the Delaware Court of
Chancery and in state and federal courts throughout the United
States.
Attorney advertising. Prior results do not guarantee a similar
outcome.
Sport Supply Grp. Del (MM) (NASDAQ:RBI)
Historical Stock Chart
From Jun 2024 to Jul 2024
Sport Supply Grp. Del (MM) (NASDAQ:RBI)
Historical Stock Chart
From Jul 2023 to Jul 2024
