Recent Securities Litigations
Sportsman’s Warehouse Holdings Inc. Common Stock (NASDAQ: SPWH)
According to the Complaint, Sportsman's Warehouse Holdings, Inc. operates 103 stores across 27 states, including stores in Humboldt and Sonoma Counties, California. The Company is known for its top-quality, brand-name products, strong customer service and deep ties to conservation groups across the country.
On December 21, 2020, Sportsman's Warehouse issued a press release announcing the Proposed Transaction, pursuant to which Sportsman's Warehouse will be acquired by Great Outdoors Group, LLC through Great Outdoors Group's subsidiary Phoenix Merger Sub I, Inc.
On February 16, 2021, Sportsman's Warehouse filed a Schedule 14A Definitive Proxy Statement with the SEC. The Complaint alleges the Proxy Statement, which recommends that Sportsman's Warehouse stockholders vote in favor of the Proposed Transaction, omits or misrepresents material information concerning, among other things: (i) the Company's financial projections and the data and inputs underlying the financial valuation analyses that support the fairness opinion provided by the Company's financial advisor; and (ii) the financial advisor's and Company insiders' potential conflicts of interest.