BALA CYNWYD, Pa., March 7, 2013 /PRNewswire/ -- Law office of
Brodsky & Smith, LLC announces that it is investigating
potential claims against the Board of Directors of Hot Topic,
Inc.("Hot Topic" or the "Company") (Nasdaq- HOTT) relating to the
proposed acquisition by Sycamore Partners ("Sycamore").
Under the terms of the transaction, Hot Topic shareholders will
receive only $14.00 in cash for each
share of Hot Topic stock they own. The investigation concerns
possible breaches of fiduciary duty and other violations of state
law by the Board of Directors of Hot Topic for not acting in the
Company's shareholders' best interests in connection with the sale
process to Sycamore. The transaction may undervalue the Company as
an analyst has set a $16.40 per share
price target for Hot Topic stock. The focus of the investigation is
whether the Hot Topic Board of Directors breached their fiduciary
duties by failing to conduct an adequate and fair sales process
prior to agreeing to this proposed transaction.
If you own shares of Hot Topic stock and wish to discuss the
legal ramifications of the proposed transaction, or have any
questions, you may e-mail or call the law office of Brodsky &
Smith, LLC who will, without obligation or cost to you, attempt to
answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith,
LLC, Two Bala Plaza, Suite 602, Bala
Cynwyd, PA 19004, by e-mail at
investorrelations@brodsky-smith.com visiting
http://brodsky-smith.com/552-hott-hot-topic-inc.html, or by calling
toll free 877-LEGAL-90.
SOURCE Brodsky & Smith, LLC