Texas Golf Retailer's Shareholders Sue To Block $96M Sale

Law360, New York (June 28, 2012, 5:46 PM EDT) -- Shareholders of Texas golf retailer Golfsmith International Holdings Inc. filed a putative class action against the company and its private equity majority stakeholder in federal court Wednesday, alleging the retailer undersold itself to another private equity firm for $96 million in May.

Filing on behalf of all Golfsmith minority shareholders, named plaintiff Benjamin Fleener accused Golfsmith, its senior management and its majority shareholder, Atlantic Equity Partners III LP, of rushing through the company's sale to an affiliate of OMERS Private Equity Inc. and accepting a deal...
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