Thursday, May 23 2013 12:34 PM EDT2013-05-23 16:34:26 GMT
The Essex Fire Department and Vermont Gas are currently investigating the smell of propane at the Edge Fitness Center in Essex, Vt.FOX44 and ABC22 reporter Michael Page says they haven't found anythingMore >>
The Essex Fire Department and Vermont Gas are currently investigating the smell of propane at the Edge Fitness Center in Essex, Vt.More >>
Thursday, May 23 2013 12:22 PM EDT2013-05-23 16:22:39 GMT
The annual Spring Move Out Project in Burlington Thursday. The project allows you to get rid of unwanted, but still usable household goods. You can bring clothes, books, furniture, household items, andMore >>
The annual Spring Move Out Project is being held in Burlington Thursday.More >>
Thursday, May 23 2013 10:40 AM EDT2013-05-23 14:40:21 GMT
If you're planning on traveling this holiday weekend, you're not alone. According to AAA, more than 30 million Americans will be on the roadways. On average, they'll also be driving at least 50 miles forMore >>
If you're planning on traveling this holiday weekend, you're not alone.More >>
Thursday, May 23 2013 9:31 AM EDT2013-05-23 13:31:51 GMT
Each year between 5 and 7 million animals enter a shelter. Purina Cat Chow is trying to offset some of those costs. The company is donating $200,000 to 50 shelters and that's where you come in. A quickMore >>
Each year between 5 and 7 million animals enter a shelter. Purina Cat Chow is trying to offset some of those costs. More >>
Thursday, May 23 2013 8:54 AM EDT2013-05-23 12:54:39 GMT
Two sides of the law are working together in order to keep the peace at the border. Vermont State Police an Quebec's Provincial Police met to address the challenges of policing at the border in a specialMore >>
Two sides of the law are working together in order to keep the peace at the border.More >>
Thursday, May 23 2013 8:13 AM EDT2013-05-23 12:13:33 GMT
New details in an officer involved shooting that happened in Danville, Vt. last year.In September, 36-year-old William Mahoney was shot by a state trooper. This after police say he stole a vehicle andMore >>
New details in an officer involved shooting that happened in Danville, Vt. last year.More >>
Thursday, May 23 2013 7:21 AM EDT2013-05-23 11:21:15 GMT
The Colchester Police Department is responding to a sink hole in the area of East Road near the intersection of Austin House Road. Police say the sink hole has closed down one lane of travel.Police areMore >>
The Colchester Police Department is responding to a sink hole in the area of East Road near the intersection of Austin House Road.More >>
Wednesday, May 22 2013 9:56 PM EDT2013-05-23 01:56:44 GMT
Nearly two years ago, Deborah Drewniak's family wasn't sure if she would be around after being severely injured in a texting and driving accident. Instead of focusing on herself, Drewniak wants to helpMore >>
A Vermont woman seriously injured by a teen, who was texting and driving, is trying to share her story with as many people as she can.More >>
Wednesday, May 22 2013 9:50 PM EDT2013-05-23 01:50:08 GMT
Magic Hat has filed a lawsuit against West Sixth Brewing because of its labeling. The Vermont based company says its copyrighted #9 label looks a lot like the Kentucky based company's products. MagicMore >>
Magic Hat has filed a lawsuit against West Sixth Brewing because of its labeling.More >>
Wednesday, May 22 2013 9:47 PM EDT2013-05-23 01:47:21 GMT
Between the deep blue seas off the horn of Africa and the Hollywood hills where film makers will tell his story, is Underhill Vermont,where Richard Phillips can be home and can be mostly private. Humble,More >>
Between the deep blue seas off the horn of Africa and the Hollywood hills where film makers will tell his story, is Underhill Vermont,where Richard Phillips can be home and can be mostly private.More >>
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SOURCE Robbins Arroyo LLP
SAN DIEGO and CITY OF INDUSTRY, Calif., March 8, 2013 /PRNewswire/ -- Shareholder rights attorneys at Robbins Arroyo LLP are investigating the acquisition of Hot Topic, Inc. (NASDAQ: HOTT) by Sycamore Partners, Inc. On March 7, 2013, the two companies jointly announced the signing of a definitive merger agreement whereby Sycamore Partners will acquire Hot Topic for $14.00 per share.
Hot Topic Shareholders Might Not Receive Maximum Value for Their Stock
Robbins Arroyo LLP's investigation focuses on whether the board of directors at Hot Topic is undertaking a fair process to obtain maximum value and adequately compensate its shareholders in the merger or whether they are seeking to benefit themselves. The merger consideration is substantially below the $16.40 target price set by an analyst at B. Riley & Company on January 22, 2013.
On February 6, 2013, Hot Topic released its fourth quarter and full year 2012 earnings results, reflecting strong increases in net sales over the same periods in 2011. Specifically, Hot Topic reported a net increase in sales for the fourth quarter of 11%, to $233 million, while net sales for the full year increased to $741.8 million. Further, the company maintained its previously announced fiscal 2013 earnings estimate of growth of 30% to 35%, as compared to fiscal 2012. Commenting on these results, Lisa Harper, Chairman and CEO of Hot Topic stated, "we expect many of the company's new merchandising, system and process initiatives will continue to gain traction in 2013, supporting continued comp growth and additional margin expansion in all brands."
Given these facts, the firm is examining the board of directors' decision to sell Hot Topic now rather than allow shareholders to continue to participate in the company's continued success and future growth prospects.
Hot Topic shareholders have the option to file a class action lawsuit to secure the best possible price for shareholders and the disclosure of material information so shareholders can vote on the transaction in an informed manner. Hot Topic shareholders interested in information about their rights and potential remedies can contact Darnell R. Donahue at (800) 350-6003, firstname.lastname@example.org, or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in securities litigation and shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. For more information, please go to http://www.robbinsarroyo.com.