Boston, MA 03/19/2014 (wallstreetpr) – It is reported that Brower Piven, a securities litigation firm has opened an investigation regarding the proposed buyout of Hastings Entertainment, Inc. (NASDAQ:HAST) by Hendrix Acquisition Corp. and Draw Another Circle, LLC. Both of these companies are owned by Joel Weinshanker, who is also a stakeholder of National Entertainment Collectibles Association, Inc., which currently holds 12% of Hastings common stock. At the same time, the company’s Chairman and CEO, John H. Marmaduke has also decided to tender his shares, which imply nearly 44% of Hastings stock pledged for merger. The investigation is aimed to find out possible violations of fiduciary duty by the company’s management towards its shareholders. Under the terms of the arrangement Hastings shareholders will get $3.00 for each of their company’s shares, which is considered as fairly underpriced, according to the analysts.
The rally seems to disappear for Clean Diesel Technologies, Inc. (NASDAQ:CDTI) as the stock is continuously retreating from its earlier gains. The nano-cap company had been on a rip after it announced last week that it has received a notable contract from Honda. The Ventura, California based company had confirmed then that it has started the manufacturing of the ordered catalysts, which comes packed with its high-performance Mixed Phase Catalyst (MPC) technology, specially meant for Honda’s Acura TLX 2015 model. Clean Diesel, which is an engine and emissions-control systems developer, has been associated with Honda for a long time, wherein, it delivered its solutions for models like Honda Accord, RLX and Acura TS.
On contrary to its name, Growlife Inc (OTCBB:PHOT) is definitely not growing as the stock is badly tumbling by over 10% during the early trade. Of late, Growlife had been on a big climb on account of the media attention it gained. The stock took center stage when an article compared the tiny stock with that of Apple (AAPL), clearly an industry giant. While, the comparison between the two just simply did not justify as both the companies work on different models, scales and markets, there have been certain market commentators, who went ahead to trash the stock. Therefore, the stock being a part of much-hyped marijuana industry failed to impress the experts, who tagged it as over-valued and riskier stock.