SHAREHOLDER ALERT: Proposed Buyout of Hastings Entertainment, Inc. May Be Unfair For Shareholders - HAST

Mar 17, 2014, 12:12 ET from Brodsky & Smith, LLC

BALA CYNWYD, Pa., March 17, 2014 /PRNewswire/ -- 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, 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, or calling toll free 877-LEGAL-90. 

BrodskySmithLLC Attorneys 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. 

SOURCE Brodsky & Smith, LLC