Hot Topic Shareholder Alert: Briscoe Law Firm and Powers Taylor, LLP Investigate Sale to Sycamore Partners
March 07 2013 - 11:36AM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe and the securities litigation firm of Powers Taylor,
LLP are investigating the sale of Hot Topic, Inc. (“Hot Topic”)
(NasdaqGS: HOTT) to Sycamore Partners for shareholders. Under the
terms of the proposed transaction valued at approximately $600
million, Hot Topic shareholders will only receive $14.00 in cash
for each share of stock owned, well below at least one analyst’s
estimated value of $16.40 per share.
If you are an affected investor, and you want to learn more
about the lawsuit or join the action, contact Willie Briscoe at The
Briscoe Law Firm, PLLC, (214) 239-4568, or via email at
WBriscoe@TheBriscoeLawFirm.com, or Zach Groover at Powers Taylor,
LLP, toll free (877) 728-9607, via e-mail at zach@powerstaylor.com.
There is no cost or fee to you.
The Hot Topic sale investigation centers on whether Hot Topic’s
shareholders are receiving adequate compensation for their shares
in the buyout, whether the transaction undervalues Hot Topic’s
stock, and whether Hot Topic’s board attempted to obtain the
highest share price for all shareholders prior to agreeing to the
deal. Notably, at least one analyst with Yahoo! Finance has
estimated that the true inherent value of Hot Topic’s shares could
be as high as $16.40 per share. Shareholder rights attorney Patrick
Powers stated that “due to proposed sale price, analysts’
estimates, the size of the deal and other factors, we believe this
transaction may undervalue Hot Topic’s stock. Our proposed lawsuit
will seek to ensure that shareholders are receiving the highest
share price for their shares.”
The Briscoe Law Firm, PLLC is a full service business litigation
and shareholder rights advocacy firm with more than 20 years of
experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters, including
claims of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
Hot Topic (NASDAQ:HOTT)
Historical Stock Chart
From Nov 2024 to Dec 2024
Hot Topic (NASDAQ:HOTT)
Historical Stock Chart
From Dec 2023 to Dec 2024