Wolf Haldenstein Announces Investigation of Hot Topic, Inc.
March 08 2013 - 2:38PM
Business Wire
Attorney Advertising. The law firm of Wolf Haldenstein Adler
Freeman & Herz LLP is investigating possible breaches of
fiduciary duty by the Board of Directors of Hot Topic, Inc. (“Hot
Topic” or the “Company”) [NASDAQ:HOTT] arising out of the proposed
acquisition of Hot Topic by Sycamore Partners (“Sycamore”).
On Thursday, March 7, 2013, Hot Topic and Sycamore announced
that Sycamore will acquire Hot Topic pursuant to an all cash offer.
Under the terms of the agreement, Hot Topic stockholders will
receive cash of $14 in exchange for each share of Hot Topic common
stock. However, the Company may not have adequately shopped itself
before entering into this transaction and, pursuant to this
proposed transaction, Sycamore may be underpaying for Hot Topic,
thus unlawfully harming Hot Topic shareholders.
Wolf Haldenstein has been representing individual and
institutional investors for many years, serving as lead counsel in
numerous cases in U.S. federal and state courts. Please visit the
Wolf Haldenstein website (http://www.whafh.com) for more
information about the firm.
If you own Hot Topic common stock and you wish to discuss this
matter with us, or have any questions concerning your rights and
interests with regard to this matter, please contact:
Matthew Guiney or Derek Behnke
Wolf Haldenstein Adler Freeman & Herz LLP
270 Madison Avenue
New York, New York 10016
Phone Numbers:
(800) 575-0735 (212) 545-4600 Email:
guiney@whafh.com
Classmember@whafh.com
Website:
http://www.whafh.com
Attorney Advertising. Prior Results Do Not Guarantee A Similar
Outcome.
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