Finkelstein Thompson LLP Announces Investigation of Gander Mountain Company's Announced Intention to Go Private

WASHINGTON, Sept. 29, 2009 (GLOBE NEWSWIRE) -- Finkelstein Thompson LLP is investigating potential claims on behalf of shareholders of Gander Mountain Company ("Gander Mountain" or the "Company") GMTN arising from the Company's announcement of its intent to cease its public company status and go private.

On September 28, 2009, Gander Mountain announced its intent to go private. In order to ensure that it will be eligible to deregister its shares of common stock, the Company will reduce its number of beneficial shareholders to below 300. To accomplish this, the Company's Board of Directors has approved an amendment to the Company's articles of incorporation to effect a 1-for-30,000 reverse stock split of its common stock. After the reverse stock split, any shareholder holding less than one share will receive a cash payment of $5.15 for each share held prior to the reverse split. Immediately following the reverse stock split, the Company will file a second amendment to its articles of incorporation to effect a 30,000-for-1 forward stock split. As a result, shareholders owning 30,000 or more shares of common stock at the time of the reverse split will retain their current numbers of shares of common stock without change and not receive cash in the transaction.

The investigation is focused on the potential unfairness of the consideration to be paid to Gander Mountain shareholders as well as the potential unfairness of the process by which the Gander Mountain Board of Directors is addressing the transaction.

If you are interested in discussing your rights as a Gander Mountain shareholder, or have information relating to this investigation, please contact Finkelstein Thompson's Washington, DC offices at (877) 337-1050 or by email at contact@finkelsteinthompson.com.

Finkelstein Thompson LLP has spent over three decades delivering outstanding representation to institutional and individual clients in financial litigation, and has been appointed as lead or co-lead counsel in dozens of shareholder class actions. Indeed, the firm has served in leadership roles in cases that have recovered over $1 billion for investors and consumers.

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