Law Firm Brower Piven Announces Investigation of Hot Topic, Inc. Going Private Transaction
The securities litigation firm of Brower Piven, A Professional
Corporation, has commenced an investigation into possible breaches of
fiduciary duty to current shareholders of Hot Topic, Inc. (“Hot Topic”
or the “Company”) (Nasdaq: HOTT) and other violations of state law by
the board of directors of Hot Topic relating to the proposed acquisition
of the Company by private equity firm Sycamore Partners. The firm’s
investigation seeks to determine, among other things, whether Hot
Topic’s board of directors breached their fiduciary duties by failing to
maximize shareholder value.
As stated in the press release announcing the proposed transaction, Hot
Topic shareholders will receive $14.00 in cash for each share of Hot
Topic they own. The transaction is currently being valued at $600
million. According to Yahoo! Finance, the high analyst price target is
$16.40 per Hot Topic share.
If you currently own common stock of Hot Topic and would like to learn
more about the investigation being conducted by Brower Piven, you may
email or call Brower Piven, who will, without obligation or cost to you,
attempt to answer your questions. You may contact Brower Piven by email
at hoffman@browerpiven.com,
by calling (410) 415-6616, or at Brower Piven, A Professional
Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys
at Brower Piven have combined experience litigating securities and other
class action cases of over 60 years.
