July 6, 2012 (Shareholders Foundation) -- An investigation on behalf of investors in LaCrosse Footwear, Inc. (NASDAQ:BOOT) shares was announced concerning whether the offerby ABC-MART, INC. to acquire LaCrosse Footwear, Inc. at $20 per NASDAQ:BOOT shares and the takeover process are unfair to investors in LaCrosse Footwear shares.

The investigation by a law firm concerns whether certain officers and directors of LaCrosse Footwear breached their fiduciary duties owed NASDAQ:BOOT investors in connection with the proposed acquisition.

On July 5, 2012, after the market closed, ABC-MART, INC. announced that it has entered into an agreement with LaCrosse Footwear, Inc. (NASDAQ: BOOT) pursuant to which ABC-MART will acquire all outstanding shares of LaCrosse Footwear stock for $20 per share in cash, or approximately $138 million.

However, the investigation for NASDAQ:BOOT investors concerns whether the proposed transaction is unfair LaCrosse Footwear stockholders. Specifically, the investigation focuses on whether the LaCrosse Footwear Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.