SHAREHOLDER ALERT: Brodsky & Smith, LLC Announces Proposed Buyout of Hastings Entertainment, Inc. May Be Unfair For Sharehold...
19 March 2014 - 3:29AM
Business Wire
Law office of Brodsky & Smith, LLC announces that it is
investigating potential claims against the Board of Directors of
Hastings Entertainment, Inc. (“Hastings” or the “Company”) (Nasdaq:
HAST) relating to the proposed acquisition by Draw Another Circle,
LLC and other entities which are owned directly or indirectly by
Joel Weinshanker (“Weinshanker”).
Click here to learn more about the investigation
http://brodsky-smith.com/730-hast-hastings-entertainment-inc.html,
or call: 877-534-2590. There is no cost or obligation to you.
Are the Terms of the Transaction Fair?
Under the terms of the transaction, Hastings shareholders will
receive only $3.00 in cash, for each share of Hastings stock they
own. The investigation concerns possible breaches of fiduciary duty
and other violations of state law by the Board of Directors of
Hastings for not acting in the Company’s shareholders' best
interests in connection with the sale process as an entity owned or
controlled by Weinshanker currently owns approximately 12% of
Hastings common stock. The transaction may undervalue the Company
as an analyst has set a $5.00 per share price target on Hastings
stock and Hastings stock traded at $4.20 as recently as June 17,
2013.
Information For Shareholders
If you own shares of Hastings common stock and wish to discuss
the legal ramifications of the proposed transaction, or have any
questions, you may e-mail or call the law office of Brodsky &
Smith, LLC who will, without obligation or cost to you, attempt to
answer your questions. You may contact Jason L. Brodsky, Esquire or
Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza,
Suite 602, Bala Cynwyd, PA 19004, by e-mail at
investorrelations@brodsky-smith.com, or calling toll free
877-LEGAL-90.
BrodskySmithLLCAttorneys at Law
Brodsky & Smith, LLC is a litigation law firm with extensive
expertise representing shareholders throughout the nation in
securities and case action lawsuits. The attorneys at Brodsky &
Smith have been appointed by numerous courts throughout the country
to serve as lead counsel in class actions and successfully
recovered millions of dollars for our clients and shareholders.
Attorney advertising. Prior results do not guarantee a similar
outcome.
Brodsky & Smith, LLCJason L. Brodsky, EsquireEvan J. Smith,
Esquire877-LEGAL-90investorrelations@brodsky-smith.com
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