|[March 07, 2013]
Hot Topic Inc. Board of Directors Under Investigation by Glancy Binkow & Goldberg LLP for Potential Breaches of Fiduciary Duty
LOS ANGELES --(Business Wire)--
Glancy Binkow & Goldberg LLP announces that it 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. The transaction is
valued at approximately $600 million or $14 per share.
This investigation concerns whether the Board of Directors of Hot Topic
breached their fiduciary duties to stockholders by failing to adequately
shop the Company before agreeing to enter into the proposed transaction,
and whether the Company has disclosed all material information to
shareholders about the transation. The Company has seen substantial
recent growth. Its share price has skyrocketed from $5.11 on March 18,
2011 to $11.35 on February 20, 2013. Further, at least one analyst has
set a target price for the Company's stock at $16.40.
If you are a shareholder of Hot Topic, if you have information or would
like to learn
more about our investigation, or if you wish to discuss these
matters or have any questions concerning this announcement or your
rights or interests with respect to these matters, please contact Louis
Boyarsky, Esquire, Glancy Binkow & Goldberg LLP, 1925 Century Park East,
Suite 2100, Los Angeles, CA (News - Alert) 90067, by telephone at (310) 201-9150 or
Toll Free at (888) 773-9224 or by email to firstname.lastname@example.org.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
[ Back To Technology News's Homepage ]