 |  |  |  |  |  |
| Protecting the Rights of Shareholders and Consumers |
Gander Mountain Company Securities Litigation
Gander Mountain Company (NasdaqGM: GMTN) shareholder litigation over alleged unfair takeover
On September 28, 2009, Gander Mountain Company (“Gander Mountain” or the “Company”) announced a going-private
transaction. Under the terms of the transaction, the Company's two largest shareholders, Gratco LLC and Holiday Stationstores
Inc., will pay Gander Mountain shareholders that have less than 30,000 shares about $5.15 per share while shareholders holding
more than 30,000 shares will retain their shares and not be paid for them.
The investigation concerns whether the Gander Mountain Board of Directors breached their fiduciary duties to Gander Mountain
shareholders given that the Company's shares traded at $6.49 as recently as June 29, 2009 and the Company has a book value
in excess of $6.37 per share.
On September 28, 2009, Gander Mountain Company (“Gander Mountain” or the “Company”) announced a going-private
transaction. Under the terms of the transaction, the Company's two largest shareholders, Gratco LLC and Holiday Stationstores
Inc., will pay Gander Mountain shareholders that have less than 30,000 shares about $5.15 per share while shareholders holding
more than 30,000 shares will retain their shares and not be paid for them.
The investigation concerns whether the Gander Mountain Board of Directors breached their fiduciary duties to Gander Mountain
shareholders given that the Company's shares traded at $6.49 as recently as June 29, 2009 and the Company has a book value
in excess of $6.37 per share.
