INDIANAPOLIS, Dec. 27 /PRNewswire/ -- The Finish Line, Inc. (Nasdaq: FINL)
said that it is disappointed with the ruling issued today by the Chancery
Court in Nashville, Tennessee, is studying the Court's decision and is
considering its options, including the possibility of an appeal.
The litigation concerning the commitment made by UBS Securities LLC and
UBS Loan Finance LLC (collectively, "UBS") to finance the Genesco transaction
is pending in the United States District Court for the Southern District of
New York. In holding that The Finish Line is required to close the merger
with Genesco Inc. (NYSE: GCO), the Nashville Court expressly reserved for
determination by the New York Court whether the merged entity would be
insolvent. If the New York Court so holds, the merger will be halted.
Alan H. Cohen, Chief Executive Officer of The Finish Line said, "While the
litigation proceeds, we are continuing to operate our business in the ordinary
course and are focused on implementing our product and branding strategies."
About The Finish Line
The Finish Line, Inc. is one of the largest mall-based specialty retailers
operating under the Finish Line and Man Alive brand names. The Finish Line,
Inc. is publicly traded on the NASDAQ Global Select Market under the symbol
FINL. The Company currently operates 701 Finish Line stores in 47 states and
online and 96 Man Alive stores in 19 states and online. To learn more about
these brands, visit www.finishline.com and www.manalive.com.
Forward-Looking Statements
Certain statements contained in this press release regard matters that are
not historical facts and are forward looking statements (as such term is
defined in the rules promulgated pursuant to the Securities Act of 1933, as
amended). 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, but are not limited to: changing
consumer preferences; the Company's inability to successfully market its
footwear, apparel, accessories and other merchandise; price, product and other
competition from other retailers (including internet and direct manufacturer
sales); the unavailability of products; the inability to locate and obtain
favorable lease terms for the Company's stores; the loss of key employees,
general economic conditions and adverse factors impacting the retail athletic
industry; management of growth; costs and uncertainties relating to the
Agreement and Plan of Merger between the Company and Genesco and the related
litigation; and the other risks detailed in the Company's Securities and
Exchange Commission filings. The Company undertakes no obligation to release
publicly the results of any revisions to these forward looking statement that
may be made to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events.
CONTACTS:
Investor Relations,
Kevin S. Wampler, Executive Vice President - CFO,
317-899-1022, ext 6914
Media Requests,
Elise Hasbrook, Corporate Communications Manager,
317-899-1022, ext 6827
SOURCE The Finish Line
Investors, Kevin S. Wampler, Executive Vice President - CFO, +1-317-899-1022,
ext 6914, or Media, Elise Hasbrook, Corporate Communications Manager,
+1-317-899-1022, ext 6827, both of The Finish Line
