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Adams Golf, Inc. (ADGF)

(NASDAQ: ADGF)

Summary

Faruqi & Faruqi, LLP Announces Investigation into Possible Breaches of Fiduciary Duties by the Board of Adams Golf, Inc. in Connection with the Sale of the Company to Adidas Group

Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Adams Golf, Inc. (“Adams Golf” or the “Company”) (NASDAQ: ADGF) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Adidas-owned TaylorMade-adidas Golf Company in a transaction valued at about $70 million. Under the terms of the proposed transaction, Adams Golf shareholders will receive $10.80 in cash for each share of Adams Golf common stock they own. Insiders including Chairman and CEO B.H. Barney Adams, Director John M. Gregory, Director Joseph R. Gregory, Director Russell L. Fleischer, Director Mark R. Mulvoy, Director Robert D. Rogers, and SJ Strategic Investments LLC, who collectively own approximately 35% of Adams Golf’s outstanding shares, have already agreed to vote their shares in favor of the transaction.

Whether Adams Golf’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether the proposed transaction undervalues Adams Golf’s shares and by how much this proposed transaction undervalues the Company to the detriment of Adams Golf’s shareholders are the key focus of this investigation.

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Faruqi & Faruqi, LLP
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