Faruqi & Faruqi, LLP Announces the Investigation of Geeknet, Inc. (GKNT) Over the Proposed Sale of the Company to Hot Topic
May 26, 2015 –Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Geeknet, Inc. (“Geeknet” or the “Company”) (NASDAQ: GKNT) for potential breaches of fiduciary duties in connection with the sale of the Company to Hot TOpic for approximately $122 million. The Company’s stockholders will only receive $17.50 for each share of Geeknet common stock they own. Geeknet stock has traded significantly higher than the offer price over the past two calendar years.
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