Law Firm Kirby McInerney LLP Investigating Potential Claims On Behalf Of Hot Topic, Inc. Shareholders
Kirby McInerney LLP 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, a private equity firm. Under the terms of the agreement, Sycamore Partners will acquire Hot Topic for a cash purchase price of $14.00 per share, valuing the Company at approximately $600 million.
The investigation concerns whether the Hot Topic Board of Directors violated its fiduciary duties by agreeing to this transaction and whether the proposed $14.00 per share consideration adequately values Hot Topic shares. The offer price represents a 30% premium to the closing price of Hot Topic shares the day prior to the announcement. At least one analyst has a price target for the Company’s stock of $16.40 per share, 17% above the offer price.
If you are a Hot Topic shareholder and wish to obtain additional information, please contact J. Brandon Walker, Esq. by email at firstname.lastname@example.org, by telephone at (212) 699-1145 or (888) 529-4787, or by filling out this contact form.
Kirby McInerney LLP is a New York-based law firm concentrating in securities, shareholder, whistleblower, antitrust and consumer litigation. For additional information, please go to www.kmllp.com.
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