WILMINGTON, Del., May 26, 2015 /PRNewswire/ -- Rigrodsky & Long, P.A.:
- Do you own shares of Geeknet, Inc. (NASDAQ GM: GKNT)?
- Did you purchase any of your shares prior to May 26, 2015?
- Do you think the proposed buyout price is too low?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Geeknet, Inc. ("Geeknet" or the "Company") (NASDAQ GM: GKNT) regarding possible breaches of fiduciary duties and other violations of law related to the Company's entry into an agreement to be acquired by Hot Topic, Inc. ("Hot Topic"), in a transaction valued at approximately $122 million.
Click here to learn more: http://rigrodskylong.com/investigations/geeknet-inc-gknt.
Under the terms of the agreement, shareholders of Geeknet will receive $17.50 in cash for each share of Geeknet they own.
The investigation concerns whether Geeknet's board of directors failed to adequately shop the Company and obtain the best possible value for Geeknet's shareholders before entering into an agreement with Hot Topic.
If you own the common stock of Geeknet's and purchased your shares before May 26, 2015, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888) 969-4242; by e-mail to firstname.lastname@example.org, or at: http://rigrodskylong.com/investigations/geeknet-inc-gknt.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
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SOURCE Rigrodsky & Long, P.A.