Law Firm Kirby McInerney LLP Investigating Potential Claims on Behalf of Hot Topic, Inc. Shareholders
March 08 2013 - 3:58PM
Business Wire
Kirby McInerney LLP is investigating potential claims against
the Board of Directors of Hot Topic, Inc. (“Hot Topic” or the
“Company”) (NASDAQ: HOTT) related to the proposed acquisition of
the Company by Sycamore Partners, a private equity firm. Under the
terms of the agreement, Sycamore Partners will acquire Hot Topic
for a cash purchase price of $14.00 per share, valuing the Company
at approximately $600 million.
The investigation concerns whether the Hot Topic Board of
Directors violated its fiduciary duties by agreeing to this
transaction and whether the proposed $14.00 per share consideration
adequately values Hot Topic shares. The offer price represents a
30% premium to the closing price of Hot Topic shares the day prior
to the announcement. At least one analyst has a price target for
the Company’s stock of $16.40 per share, 17% above the offer
price.
If you are a Hot Topic shareholder and wish to obtain additional
information, please contact J. Brandon Walker, Esq. by email
at bwalker@kmllp.com, by telephone at (212) 699-1145 or (888)
529-4787, or by filling out this contact form.
Kirby McInerney LLP is a New York-based law firm concentrating
in securities, shareholder, whistleblower, antitrust and consumer
litigation. For additional information, please go to
www.kmllp.com.
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