Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the
law firm of Kahn Swick & Foti, LLC (“KSF”) announce that KSF has
commenced an investigation into the Board of Directors of Hi-Tech
Pharmacal Co., Inc. (“Hi-Tech” or the “Company”) (NASDAQ GS: HITK) in
connection with their conduct related to the sale of the Company to
Akorn, Inc. (NASDAQ GS: AKRX). Under the terms of the proposed
transaction, shareholders of Hi-Tech will receive $43.50 in cash for
each share of Hi-Tech common stock that they own.
KSF’s investigation is focusing on whether Hi-Tech and/or its officers
and directors secured sufficient value for the shareholders of the
Company, violated their fiduciary duties, and/or violated state or
federal securities laws.
If you have information that would assist KSF in its investigation, or
would like to discuss your legal rights, you may, without obligation or
cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn (lewis.kahn@ksfcounsel.com)
or attorney Michael Palestina (michael.palestina@ksfcounsel.com)
toll free at 855-768-1857 or via cell phone any time at 504-236-7315.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General
Charles C. Foti, Jr., is a law firm focused on transactional litigation,
as well as securities class action and shareholder derivative
litigation. With offices in New York and Louisiana, KSF's lawyers have
significant experience litigating complex securities class actions
nationwide on behalf of both institutional and individual shareholders.
To learn more about KSF, you may visit www.ksfcounsel.com.
Copyright Business Wire 2013