Law Office of Brodsky & Smith, LLC Announces Investigation of Hot Topic, Inc.
March 08 2013 - 9:30PM
Business Wire
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.
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