San Diego, CA -- (SBWIRE) -- 06/15/2017 -- The Shareholders Foundation announces that an investor, who currently holds shares of Cabelas Inc (NYSE:CAB), filed a lawsuit in effort to halt the proposed takeover of Cabelas Inc. by Bass Pro Shops for $65.50 per share.

Investors who purchased shares of Cabelas Inc (NYSE:CAB) and currently hold any of those NYSE:CAB shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.

The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:CAB stockholders by agreeing to sell Cabelas Inc cheaply via an unfair process to Bass Pro Shops.

On October 3, 2016, Bass Pro Shops and Cabelas Inc (NYSE:CAB) announced that they have entered into an agreement under which Bass Pro Shops will acquire Cabelas Inc (NYSE:CAB) for $65.50 per share in cash, representing an aggregate transaction value of approximately $5.5 billion.

On April 17, 2017, Cabelas Inc announced that it has entered into agreements with subsidiaries of Synovus Financial Corp. (NYSE:SNV) and Capital One Financial Corporation (NYSE:COF) ("Capital One") (the "Bank Transaction Agreements") in connection with the sale of the assets and liabilities of Cabela's wholly owned bank subsidiary, World's Foremost Bank (the "Bank"). Cabela's also announced that it has amended the terms of the definitive merger agreement signed on October 3, 2016, under which Bass Pro Shops will acquire Cabela's (the "Amended Merger Agreement"). Under the Amended Merger Agreement, Bass Pro Shops will acquire Cabela's for $61.50per share in cash, representing an aggregate transaction value of approximately $5.0 billion.

However, plaintiff claims that the proposed consideration NYSE:CAB shareholders will receive is grossly inadequate and undervalues Cabelas Inc. Cabelas Inc reported that its Total Revenue rose from over $3.64 billion for the 52 weeks period that ended on December 27, 2014 to over $3.99 billion for the 53 weeks period that ended on January 2, 2016. In addition, the plaintiff alleges that the process is also unfair NYSE:CAB stockholders.

Shares of Cabelas Inc (NYSE:CAB) closed on June 14 2016, at $56.85 per share.

Those who are current investors in Cabelas Inc shares have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com