INVESTOR ALERT Levi & Korsinsky, LLP Announces Investigation Of HASTINGS ENTERTAINMENT, INC. And Its Board Of Directors In Relation To The Sale Of The Company To Draw Another Circle, LLC & Hendrix Acquisition Corp. -- HAST
NEW YORK, March 18, 2014 /PRNewswire/ -- Levi & Korsinsky commenced an investigation of Board of Directors of Hastings Entertainment, Inc. ("Hastings") (NasdaqCM: HAST) in relation to the sale of the Company to Draw Another Circle, LLC and Hendrix Acquisition Corp., companies owned directly or indirectly by Joel Weinshanker. Mr. Weinshanker is also sole shareholder of National Entertainment Collectibles Association, Inc., which holds approximately 12% of Hastings' outstanding shares. Furthermore, Mr. John H. Marmaduke, Hastings' Chairman and CEO, has agreed to tender his shares; this results in a combined 44% of the Company's outstanding shares committed to vote for the merger.
Click here to learn more http://zlk.9nl.com/hastings-entertainment-hast , or call: 877-363-5972. There is no cost or obligation to you.
Under the terms of the deal, Hastings shareholders will receive $3.00 for each share of Hastings stock they own. The investigation concerns whether the Hastings Board breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Mr. Weinshanker is taking advantage of his position to purchase the Company at an unfair price. In particular, Hastings has a reported book value of $7.57 per share for the most recent quarter, and at least one analyst set a price target at $5.00 per share.If you own Hastings common stock and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/hastings-entertainment-hast . Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's 26 attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes. Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq.30 Broad Street - 24th Floor New York, NY 10004Tel: (212) 363-7500Toll Free: (877) 363-5972Fax: (866) 367-6510 www.zlk.com Logo - http://photos.prnewswire.com/prnh/20120409/MM84375LOGO SOURCE Levi & Korsinsky, LLP
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV