INVESTOR ALERT: The Law Office of Jack Stuart Beige & Associates, P.C. Announces Investigation of Hastings Entertainment, Inc. Buyout Proposal
SMITHTOWN, NY, March 18, 2014:
The Law Office of Jack Stuart Beige & Associates, P.C. announces that it is investigating the Board of Directors of Hastings Entertainment, Inc. (“Hastings”) (NASDAQ CM: HAST) for possible breaches of fiduciary duties and other violations of law in connection with Hasting’s agreement to be acquired by affiliates of Joel Weinshanker (“Weinshanker”) in a transaction valued at approximately $21.4 million.
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’ Board of Directors breached its fiduciary duties to stockholders, whether the proposed consideration to be paid to Hastings’ stockholders would be fair and adequate, and whether Hastings is acting in its stockholders’ best interests.
If you own Hastings common stock, purchased your shares prior to March 17, 2014, and wish to obtain additional information, please contact Joseph R. Beige, Esquire either via email at or by telephone at (631) 231-7725.