WILMINGTON, Del., April 22, 2014 /PRNewswire/ -- Rigrodsky & Long, P.A.:
- Do you own shares of Hastings Entertainment, Inc. (NASDAQ CM: HAST)?
- Did you purchase any of your shares prior to March 17, 2014?
- 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 Hastings Entertainment, Inc. ("Hastings" or the "Company") (NASDAQ CM: HAST) regarding possible breaches of fiduciary duties and other violations of law related to the Company's entry into an agreement to be acquired by affiliates of Joel Weinshanker ("Weinshanker") in a transaction valued at approximately $21.4 million.
Click here to learn more: http://www.rigrodskylong.com/investigations/hastings-entertainment-inc-hast.
Under the terms of the agreement, public shareholders of Hastings will receive $3.00 per share in cash for each share of Hastings they own.
The investigation concerns whether Hastings's board of directors failed to adequately shop the Company and obtain the best possible value for Hastings's shareholders before entering into an agreement with Weinshanker. According to Yahoo! Finance, at least one analyst has issued a price target for Hastings stock at $5.00 per share.
If you own the common stock of Hastings and purchased your shares before March 17, 2014, 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, Delaware 19803; by telephone at (888) 969-4242; by e-mail to [email protected], or at: http://www.rigrodskylong.com/investigations/hastings-entertainment-inc-hast.
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.