Law Office of Brodsky & Smith, LLC Announces Investigation on Behalf of Shareholders of Gander Mountain Company

Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Gander Mountain Company (“Gander Mountain” or the “Company”) (Nasdaq:GMTN) related to the transaction to take the Company private by the Company’s two largest shareholders.

Under the terms of the transaction, the board of directors approved a 1-for-30,000 reverse stock spilt of Company 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. The Company also announced that Gratco, LLC and Holiday Stationstores, Inc., have agreed to make an offer to purchase shares held by remaining shareholders following the going private transaction at the same price of $5.15 per share following effectiveness of the stock spilt. The investigation concerns whether the board breached their fiduciary duties given that Gander Mountain stock traded at $5.62 on August 31, 2009 and $6.39 on June 8, 2009.

If you are a Gander Mountain shareholder and wish to discuss the legal ramifications of the Board’s actions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Marc L. Ackerman, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at clients@brodsky-smith.com, or by calling toll free 877-LEGAL-90.