Schatz & Nobel, P.C. Announces Class Action Lawsuit Against Gander Mountain Company

Schatz & Nobel, P.C. Announces Class Action Lawsuit Against
Gander Mountain Company 


HARTFORD, Conn., Jan. 28  /PRNewswire/ -- The law firm of Schatz & Nobel, P.C.,
which has significant experience representing investors in prosecuting claims
of securities fraud, announces that a lawsuit seeking class action status has
been filed in the United States District Court for the District of Minnesota on
behalf of all persons who purchased the common stock of Gander Mountain Company
(NasdaqNM: GMTN) ("Gander Mountain") between April 20, 2004 and January 13,
2005 (the "Class Period").  Also included are those who purchased pursuant to
the Company's Initial Public Offering ("IPO").

The Complaint alleges that Gander Mountain violated federal securities laws by
issuing false and misleading statements.  Specifically, defendants failed to
disclose that: (i) the Company's co-branded credit card program was faltering;
(ii) the value of the Company's inventory was overstated, causing the Company's
future margins to be negatively impacted; (iii) the Company's debt capacity was
jeopardized and was inconsistent with defendants' growth plans; (iv) the
Company was experiencing average trends with respect to its sales; and (v)
defendants' projections of positive comparable sales growth of 3%-5% and pretax
income of $13 million were materially misleading.

On November 9, 2004, Gander Mountain announced it had "lowered its outlook for
pretax income for fiscal 2004 to a range of $8 million to $13 million, compared
with the company's prior guidance of $16 million to $21 million."  On January
14, 2005, the Company issued a press release lowering its outlook for pretax
income for fiscal 2004 even further, "to a range of $2.0 million to $4.0
million, compared with the company's prior guidance of $8 million to $13
million." On this news, Gander Mountain's shares plummeted to a close of $9.43.
 During the Class Period, Gander Mountain traded as high as $24.65.

If you are a member of the class, you may, no later than March 29, 2005,
request that the Court appoint you as a lead plaintiff of the class.  A lead
plaintiff is a class member that acts on behalf of other class members in
directing the litigation.  Although your ability to share in any recovery is
not affected by the decision whether or not to seek appointment as a lead
plaintiff, lead plaintiffs make important decisions which could affect the
overall recovery for class members, including decisions concerning settlement.
The securities laws require the Court to consider the class member(s) with the
largest financial interest as presumptively the most adequate lead
plaintiff(s).

For more information about the case, its claims, and your rights, please
contact Schatz & Nobel toll-free at [phone], or by e-mail at .  To view
a copy of the Complaint initiating the class action, which was not filed by
Schatz & Nobel, or for more information about this case, class action cases in
general, or Schatz & Nobel, please visit our website: http://www.snlaw.net/.

  CONTACT:
   Nancy A. Kulesa
   Wayne T. Boulton
   Tel.: [phone]
   Website: http://www.snlaw.net/
   e-mail: 

DATASOURCE: Schatz & Nobel, P.C.



CONTACT: Nancy A. Kulesa or Wayne T. Boulton both of Schatz & Nobel, or

[phone], 



Web site:  http://www.snlaw.net/

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