Hot Topic (HOTT) Takeover Shareholder Lawsuit
Hot Topic (HOTT) merger lawsuit summary
Hot Topic (HOTT) announced it has entered into a definitive merger agreement pursuant to which Hot Topic will be acquired by Sycamore Partners. The proposed merger transaction values Hot Topic at approximately $600 million. HOTT shareholders will receive $14.00 in cash for each share of HOTT they own.
Is $600 million a fair deal for HOTT Shareholders?
Is $14.00 fair value for HOTT shareholders? Hot Topic has seen substantial recent growth. Its share price has skyrocketed from $5.11 on March 18, 2011 to $11.35 on February 20, 2013. Further, at least one analyst has set a target price for the Company’s stock at $16.40.
Have Hot Topic’s board members complied with all duties owed to HOTT shareholders?
Has the Hot Topic board of directors properly shopped the company to all possible suitors?
Hot Topic (HOTT) merger shareholder lawsuit investigation
We are investigating whether the proposed transaction is fair to Hot Topic shareholders. The investigation concerns whether the Hot Topic board of directors’ process for consideration of the proposed transaction was adequate, whether Hot Topic is acting in its shareholders’ best interests and whether the proposed share price to be paid to HOTT shareholders is fair and adequate. If you own the common stock of Hot Topic and 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 fill out the contact form on this web page or call Attorney George Pressly at Morgan & Morgan toll free at 1 (800) 631-6234.
Hot Topic, Inc.
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