SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Announces A Class Action Lawsuit
Has Been Filed Against The Board Of Directors Of Hastings Entertainment,
WILMINGTON, Del. -- April 2, 2014
Rigrodsky & Long, P.A. announces a complaint alleging breaches of fiduciary
duty and other violations of law has been filed in the United States District
Court of the Northern District of Texas against the board of directors of
Hastings Entertainment, Inc. (“Hastings” or the “Company”) (NASDAQ CM: HAST)
in connection with 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.
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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 complaint alleges that 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.
If you own the common stock of Hastings and purchased your shares before March
17, 2014, and would like to learn more about these allegations, 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@example.com, or at:
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
Attorney advertising. Prior results do not guarantee a similar outcome.
Rigrodsky & Long, P.A.
Seth D. Rigrodsky
Gina M. Serra
Fax: (302) 654-7530
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