BALA CYNWYD, Pa., May 26, 2015 /PRNewswire/ -- Law office of
Brodsky & Smith, LLC announces that it is investigating
potential claims against the Board of Directors of Geeknet, Inc.
("Geeknet" or "the Company") (Nasdaq -GKNT-News) for possible
breaches of fiduciary duty and other violations of state law in
connection with the sale of the Company to Hot Topic, Inc. ("Hot
Topic").
Click here to learn more about the investigation
http://brodsky-smith.com/943-gknt-geeknet-inc.html, or call:
877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction, Geeknet is being sold for
only $122 million and Geeknet
shareholders will receive only $17.50
in cash for each share of Geeknet stock they own. The investigation
concerns whether the Board of Geeknet breached their
fiduciary duties to shareholders and whether Hot Topic is
underpaying for Geeknet. The transaction may undervalue Geeknet and
will result in a loss for many long term holders of Geeknet stock.
For example, Geeknet stock traded at $19.19 per share as recently as January 7, 2014. As a result, the
investigation will focus on the sales process and other strategic
alternatives that could have enhanced shareholder value.
If you own shares of Geeknet and wish to discuss the legal
ramifications of the investigation, 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 510, Bala
Cynwyd, PA 19004, by visiting
http://brodsky-smith.com/943-gknt-geeknet-inc.html, or calling
toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive
expertise representing shareholders throughout the nation in
securities and class 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 have
successfully recovered millions of dollars for our clients and
shareholders. Attorney advertising. Prior results do not guarantee
a similar outcome.
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SOURCE Brodsky & Smith, LLC