SAN DIEGO, March 26, 2018 /PRNewswire/ -- Shareholder rights
law firm Johnson & Fistel, LLP has launched an investigation
into whether the board members of The Finish Line, Inc. (NASDAQ:
FINL) ("Finish Line") breached their fiduciary duties in connection
with the proposed sale of the Company to JD Sports Fashion Plc.
("JD Sports").
Additional Information:
The Finish Line, Inc., together with its subsidiaries, operates as
a retailer of athletic shoes, apparel and accessories for men,
women and kids in the United
States. The Company offers athletic shoes, as well as an
assortment of apparel and accessories of Nike, Brand Jordan, Adidas, Under Armour, Puma and
other brands.
On March 26, 2018, Finish
Line announced it had signed a definitive merger agreement with JD
Sports. Under the terms of the transaction, Finish Line
shareholders will receive $ 13.50 in
cash.
The investigation concerns whether Finish Line's board failed to
satisfy their duties to the Company's shareholders, including
whether the board adequately pursued alternatives to the
acquisition and whether the board obtained the best price possible
for the Company's shares of common stock.
Nationally recognized Johnson
Fistel is investigating whether the proposed deal represents
adequate consideration, especially given that one Wall Street
analyst has a $17.00 price target on
the stock. The 52-week high for Finish Line
was $16.38. Additionally,
Finish line has over $77million
in cash and no long-term debt.
If you are a shareholder of Finish Line and
believe the proposed buyout price is too low or you're
interested in learning more about the investigation or your legal
rights and remedies, please contact lead analyst
Jim Baker (jimb@johnsonFistel.com)
at 619-814-4471.
About Johnson Fistel,
LLP:
Johnson Fistel, LLP is a
nationally recognized shareholder rights law firm with offices in
California, New York and Georgia. The firm represents individual and
institutional investors in shareholder derivative and securities
class action lawsuits. For more information about the firm and its
attorneys, please visit http://www.johnsonfistel.com. Attorney
advertising. Past results do not guarantee future outcomes.
Contact:
Johnson
Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP