Wolf Haldenstein Announces Investigation of Hot Topic, Inc.
NEW YORK--(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
Attorney Advertising. Prior Results Do Not Guarantee A Similar Outcome.
KEYWORDS: United States North America New York
The article Wolf Haldenstein Announces Investigation of Hot Topic, Inc. originally appeared on Fool.com.
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