Robbins Geller Secures Class Certification in Case Against Hot Topic, Inc.
On November 3, 2014, the Honorable S. James Otero of the Central District of California entered an order certifying a class of former holders of Hot Topic, Inc. common stock on the record date, May 3, 2013, who were allegedly harmed by defendants’ violations of §14(a) and §20(a) of the Securities Exchange Act of 1934 in connection with the merger of Hot Topic and Sycamore Partners as alleged in the litigation.
In granting class certification, the court determined that all of the Rule 23(a) factors (numerosity, commonality, typicality and adequacy) and Rule 23(b) factors (superiority and predominance) were satisfied. In addition, the court noted that Robbins Geller “is both qualified and competent” to serve as class counsel.
Robbins Geller is actively preparing this case for trial in December 2015.