Faruqi & Faruqi, LLP Announces Investigation of Golfsmith International Holdings, Inc. (GOLF)
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Golfsmith International Holdings, Inc. (“Golfsmith” or the “Company”) (NASDAQ: GOLF) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Golf Town U.S.A. Holdings, Inc. in an all-cash deal valued at about $139.67 million, including debt. Under the terms of the proposed transaction, Goldsmith’s stockholders will receive $6.10 in cash for each share of Goldsmith’s common stock they own, while according to Yahoo! Finance, at least one financial analyst has set a price target of $7.50 for Goldsmith.
Whether Goldsmith’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 Goldsmith’s shares and by how much this proposed transaction undervalues the Company to the detriment of Goldsmith’s shareholders are the key focus of this investigation.
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Faruqi & Faruqi, LLP
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