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Hastings Entertainment Shareholder Alert: Former SEC Attorney Willie Briscoe And Powers Taylor LLP Investigate Merger With Subsidiaries Owned By Joel Weinshanker

Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor LLP are investigating potential claims against the Board of Directors of Hastings Entertainment, Inc. (“Hastings”) (NasdaqCM: HAST) related to the merger with Draw Another Circle, LLC and Hendrix Acquisition Corp., which are owned, directly or indirectly, by Joel Weinshanker, for shareholders. Under the terms of the transaction Hastings shareholders will only receive $3 in cash for each share owned, well below the 52-week high of $5.45 and at least one analyst’s estimated value of $5.00 per share.

If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, or via email at, or Patrick Powers at Powers Taylor LLP, toll free (877) 728-9607, via e-mail at There is no cost or fee to you.

The Hastings investigation centers on whether Hastings’ Board of Directors is acting in the shareholders’ best interests, whether the board is properly considering the proposed price for the shareholders, and whether the board has employed an adequate process to review and act on the proposed transaction. Notably, at least one analyst with Yahoo! Finance believes the true inherent value of Hastings could be as high as $5.00 per share.

The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

Powers Taylor LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.

Copyright Business Wire 2010

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