WILMINGTON, Del., March 11, 2013 /PRNewswire/ -- Rigrodsky & Long, P.A.:
- Do you own shares of Hot Topic, Inc. (NASDAQ GS: HOTT)?
- Did you purchase any of your shares prior to March 7, 2013?
- Do you think the proposed buyout price is too low?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Hot Topic, Inc. ("Hot Topic" or the "Company") (NASDAQ GS: HOTT) regarding possible breaches of fiduciary duties and other violations of law related to the Company's entry into an agreement to be acquired by Sycamore Partners ("Sycamore") in a transaction valued at approximately $600 million.
Click here to learn more: http://www.rigrodskylong.com/investigations/hot-topic-inc-hott.
Under the terms of the proposal, public shareholders of Hot Topic will receive $14.00 per share in cash for each share of Hot Topic they own.
The investigation concerns whether Hot Topic's board of directors failed to adequately shop the Company and obtain the best possible value for Hot Topic's shareholders before entering into an agreement with Sycamore. According to Yahoo! Finance, at least one analyst has set a price target for Hot Topic stock at $16.40 per share.
If you own the common stock of Hot Topic and purchased your shares before March 7, 2013, if you have information or would like to learn more about these claims, 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 Seth Rigrodsky or Brian Long at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, Delaware 19803, by telephone at (302) 295-5310, or Peter Allocco at Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530, by telephone at (888) 969-4242; by e-mail to info@rigrodskylong.com, or at: http://www.rigrodskylong.com/investigations/hot-topic-inc-hott.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar outcome.
CONTACT:
Rigrodsky & Long, P.A.
Seth D. Rigrodsky
Brian D. Long
Peter Allocco
(888) 969-4242
(302) 295-5310
(516) 683-3516
Fax: (302) 654-7530
info@rigrodskylong.com
http://www.rigrodskylong.com
SOURCE Rigrodsky & Long, P.A.