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New York, NY -- (SBWIRE) -- 03/08/2013 -- Hot Topic Inc. (NASDAQ: HOTT) related to the proposed acquisition of the Company by Sycamore Partners. The transaction is valued at approximately $600 million or $14 per share.
This investigation concerns whether the Board of Directors of Hot Topic breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the proposed transaction, and whether the Company has disclosed all material information to shareholders about the transaction. The Company 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 of the Company’s stock at $16.40.
How Should Investors React To HOTT Now? Find Out Here
Navistar International Corp. (NYSE:NAV) reported a first quarter loss from continuing operations of $1.42 per share Thursday morning, compared to the loss of $2.06 per share last year. The consensus estimate was for a loss of $1.76.The company also announced that its Board of Directors has appointed Troy Clarke as president and chief executive officer, effective April 15.Navistar International gapped open sharply higher Thursday and is now up 4.69 at $29.65 on above average volume. The stock has climbed to an 8-month high.
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FreeSeas Inc. (NASDAQ:FREE) a drybulk shipping company that through its subsidiaries, engages in the transportation of drybulk cargoes is currently up (+17.42%) on 1,788,593 shares traded. FreeSeas Inc. (NASDAQ:FREE) is currently up (+258.33%) from its recent 52-week low which has prompted Growing Stock Report to add the stock to their NASDAQ Gainers Watch List.
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Immersion Corporation (NASDAQ:IMMR) a company that develops, manufactures, licenses, and supports a range of hardware and software technologies and products that enhance digital devices with touch interaction is currently up (+37.64%) on 1,136,982 shares traded after Immersion Enters Into Multi-Year License with Samsung. Immersion Corporation (NASDAQ:IMMR) is currently up (+114.7%) from its recent 52-week low which has prompted Growing Stock Report to add the stock to their NASDAQ Gainers Watch List.
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