INDIANAPOLIS, Sept. 28 /PRNewswire-FirstCall/ -- The Finish Line, Inc.
(Nasdaq: FINL) today announced that it has filed an answer, counterclaim and
third-party claim for declaratory judgment in connection with the action
pending in the Chancery Court in Nashville, Tennessee, regarding the Company's
proposed acquisition of Genesco Inc. (NYSE: GCO).
In its filing, The Finish Line is seeking an order that Genesco provide
all requested financial data and access to personnel, and that its failure to
do so in a timely manner is a breach of the merger agreement. As previously
announced, The Finish Line has asked Genesco for certain financial and other
information as well as access to Genesco's Chief Financial Officer and
financial staff. However, to date Genesco has not responded to and has
refused to comply with these requests.
In addition, The Finish Line is seeking a declaratory judgment of whether
a "Company Material Adverse Effect" has occurred under the merger agreement,
as UBS questions and Genesco denies. As previously announced, UBS provided
The Finish Line with a commitment letter regarding financing for its proposed
acquisition of Genesco. As UBS is a necessary party whose interests are
directly affected by the declaratory relief sought, UBS has been named a
third-party defendant in the action.
About The Finish Line
The Finish Line, Inc. is one of the largest mall-based specialty retailers
operating under the Finish Line, Man Alive and Paiva brand names. The Finish
Line, Inc. is publicly traded on the NASDAQ Global Select Market under the
symbol FINL. The Company currently operates 698 Finish Line stores in 47
states and online, 95 Man Alive stores in 19 states and online and 2 Paiva
stores in 2 states. To learn more about these brands, visit www.finishline.com
Certain statements contained in this press release regard matters that are
not historical facts and are forward looking statements within the meaning of
the "safe harbor" provisions of the Private Securities Litigation Reform Act
of 1995, as amended, and the rules promulgated pursuant to the Securities Act
of 1933, as amended. These forward-looking statements generally can be
identified by use of statements that include words such as "expect,"
"anticipate," "believe," "plan," and other similar words. Forward-looking
statements include, without limitation, statements regarding the merger
agreement and the transactions contemplated thereby.
Because such forward looking statements contain risks and uncertainties,
actual results may differ materially from those expressed in or implied by
such forward looking statements. Factors that could cause actual results to
differ materially include matters relating to the merger agreement and the
transactions contemplated thereby.
The company undertakes no obligation to release publicly the results of
any revisions to these forward looking statements that may be made to reflect
events or circumstances after the date hereof or to reflect the occurrence of
SOURCE The Finish Line, Inc.
Investor Relations, Kevin S. Wampler, Executive Vice President,
CFO, +1-317-899-1022, ext 6914;
Media Requests, Elise Hasbrook, Corporate
Communications Manager, +1-317-899-1022, ext 6827
Web site: http://www.finishline.com