Hot Topic Shareholder Alert: Briscoe Law Firm and Powers Taylor, LLP Investigate Sale to Sycamore Pa
Mar 7th 2013 11:51AM
Updated Mar 7th 2013 11:54AM
Hot Topic Shareholder Alert: Briscoe Law Firm and Powers Taylor, LLP Investigate Sale to Sycamore Partners
DALLAS--(BUSINESS WIRE)-- Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of Hot Topic, Inc. ("Hot Topic") (NasdaqGS: HOTT) to Sycamore Partners for shareholders. Under the terms of the proposed transaction valued at approximately $600 million, Hot Topic shareholders will only receive $14.00 in cash for each share of stock owned, well below at least one analyst's estimated value of $16.40 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 WBriscoe@TheBriscoeLawFirm.com, or Zach Groover at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at firstname.lastname@example.org. There is no cost or fee to you.
The Hot Topic sale investigation centers on whether Hot Topic's shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues Hot Topic's stock, and whether Hot Topic's board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. Notably, at least one analyst with Yahoo! Finance has estimated that the true inherent value of Hot Topic's shares could be as high as $16.40 per share. Shareholder rights attorney Patrick Powers stated that "due to proposed sale price, analysts' estimates, the size of the deal and other factors, we believe this transaction may undervalue Hot Topic's stock. Our proposed lawsuit will seek to ensure that shareholders are receiving the highest share price for their shares."
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.
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