SHAREHOLDER ALERT: Law Office of Brodsky & Smith, LLC Announces Investigation of Hi-Tech Pharmacal Co.
11 Septiembre 2013 - 1:35PM
Business Wire
Law office of Brodsky & Smith, LLC announces that it is
investigating potential claims against the Board of Directors of
Hi-Tech Pharmacal Co. (“Hi-Tech” or the “Company”) (Nasdaq: HITK)
relating to the proposed acquisition by Akorn, Inc. (“Akorn”).
Click here to learn more about the investigation
http://brodsky-smith.com/632-hitk-hi-tech-pharmacal-co.html, or
call: 877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction, Hi-Tech shareholders will
receive only $43.50 in cash for each share of Hi-Tech stock they
own. The investigation concerns possible breaches of fiduciary duty
and other violations of state law by the Board of Directors of
Hi-Tech for not acting in the Company’s shareholders' best
interests in connection with the sale process. The transaction may
undervalue the Company as after the acquisition of Hi-Tech is
completed Akorn will become the third-largest drug company focused
on ophthalmic treatments. In addition, the transaction will provide
Akorn with an expanded line of over-the-counter sinus products and
will result in an estimated cost savings of 15 million
annually.
If you own shares of Hi-Tech common stock and wish to discuss
the legal ramifications of the proposed transaction, or have any
questions, you may e-mail or call the law office of Brodsky &
Smith, LLC who will, without obligation or cost to you, attempt to
answer your questions. You may contact Jason L. Brodsky, Esquire or
Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza,
Suite 602, Bala Cynwyd, PA 19004, by e-mail at
investorrelations@brodsky-smith.com, by visiting
http://brodsky-smith.com/632-hitk-hi-tech-pharmacal-co.html, or
calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive
expertise representing shareholders throughout the nation in
securities and case action lawsuits. The attorneys at Brodsky &
Smith have been appointed by numerous courts throughout the country
to serve as lead counsel in class actions and successfully
recovered millions of dollars for our clients and shareholders.
Attorney advertising. Prior results do not guarantee a similar
outcome.
Brodsky & Smith, LLCJason L. Brodsky, EsquireEvan J. Smith,
Esquire877-LEGAL-90investorrelations@brodsky-smith.comhttp://brodsky-smith.com/632-hitk-hi-tech-pharmacal-co.html
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