At the end of last week, a Texas District Court judge rejected shareholders’ request for a preliminary injunction blocking the proposed buyout of Hastings by National Entertainment Collectibles. The court did not find “a substantial likelihood of success on the merits” for the plaintiffs, though this ruling does not block the shareholders’ lawsuit from going forward. It simply denies any expedited discovery, and means the suit will not prevent the merger from going forward. The court recognizes that “a judgment for money damages is a potential post-merger appraisal remedy.” Ruling
