Juan
E. Monteverde, a partner at Faruqi
& Faruqi, LLP, a leading national securities firm headquartered
in New York City, is investigating the Board of Directors of Hi-Tech
Pharmacal Co., Inc. (“Hi-Tech” or the “Company”) (NasdaqGS: HITK) for
potential breaches of fiduciary duties in connection with their conduct
related to the sale of the Company to Akorn, Inc. (NasdaqGS: AKRX) in a
deal valued at $640 million. Under the terms of the proposed
transaction, Hi-Tech’s stockholders will receive $43.50 in cash for each
share of Hi-Tech common stock they own. However, Hi-Tech has reached
$44.30 in its 52-week high.
Request more information now by clicking here: www.faruqilaw.com/HITK.
There is no cost or obligation to you.
The investigation focuses on whether Hi-Tech’s Board of Directors
breached their fiduciary duties to the Company’s stockholders by failing
to conduct an adequate and fair sales process prior to agreeing to this
proposed transaction, whether and by how much this proposed transaction
undervalues the Company to the detriment of Hi-Tech’s shareholders.
Faruqi
& Faruqi, LLP is a national law firm which represents investors
and individuals in class action litigation. The firm is focused on
providing exemplary legal services in complex litigation in the areas of
securities, shareholder, antitrust and consumer litigation, throughout
all phases of litigation. The firm has an experienced trial team which
has achieved significant victories on behalf of the firm’s clients.
If you own common stock in Hi-Tech and wish to obtain additional
information and protect your investments free of charge, please visit us
at www.faruqilaw.com/HITK
or contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com
or by telephone at (877) 247-4292 or (212) 983-9330.
Attorney Advertising. (C) 2013 Faruqi & Faruqi, LLP. The law firm
responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com).
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to any future matter. We are happy to discuss your particular case.
Copyright Business Wire 2013