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Affymax & Hot Topic News: (NASDAQ: AFFY), (NASDAQ: HOTT)


New York, NY -- (ReleaseWire) -- 03/08/2013 --Pomerantz Grossman Hufford Dahlstrom & Gross LLP has filed a class action lawsuit against Affymax, Inc. (NASDAQ: AFFY) and certain of its officers. The class action filed in United States District Court, Central District of California, and docketed under C13-1025 SI, is on behalf of a class consisting of all persons or entities who purchased or otherwise acquired securities of Affymax between December 8, 2011 and February 22, 2013, both dates inclusive of (the "Class Period").

Affymax is a Palo Alto-based biopharmaceutical company whose primary drug offering is Omontys (peginesatide) Injection for the treatment of anemia in chronic kidney disease in adult patients on dialysis.

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Hot Topic Inc. (NASDAQ: HOTT) and Sycamore Partners announced that they have entered into a definitive agreement pursuant to which Sycamore Partners will acquire Hot Topic for $14.00 per share in cash, or a total of approximately $600 million. The agreement, which has been unanimously approved by Hot Topic’s Board of Directors, represents a premium of approximately 30% over Hot Topic’s closing stock price on March 6, 2013.

Lisa Harper, Chief Executive Officer and Chairman of the Board of Hot Topic, said, “We are pleased that this transaction will allow us to deliver positive results for our shareholders. In addition, we are very excited about the future growth for the company and know that Sycamore Partners will provide great resources and expertise to us as we operate as a private company.”

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