Hot Topic Takeover Sparks First Lawsuit

The law office of Brodsky & Smith said it's investigating potential claims against the Hot Topic board of directors related to the proposed acquisition by Sycamore. The law firm claims that while, under the proposed terms, Hot Topic shareholders would receive only $14.00 per share; one analyst has set a $16.40 per share price target for Hot Topic stock. Brodsky & Smith says the focus of its investigation will revolve around whether the Hot Topic board of directors failed to conduct an adequate and fair sales process prior to agreeing to the deal with Sycamore.