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.
SOURCE Brodsky & Smith, LLC