Kirby McInerney LLP is investigating potential claims against the Board
of Directors of Hi-Tech Pharmacal Co., Inc. (“Hi-Tech” or the “Company”)
(NASDAQ:HITK) related to the proposed acquisition of the Company by
Akorn, Inc. (“Akorn”). Under the terms of the agreement, Akorn will
acquire all of the outstanding common stock of Hi-Tech for $43.50 per
share in cash, for a total transaction value of approximately $640
million.
The investigation concerns whether the Hi-Tech Board of Directors
violated their fiduciary duties in agreeing to the proposed transaction
and whether the $43.50 per share consideration adequately values Hi-Tech
shares.
If you are a Hi-Tech shareholder and wish to obtain additional
information, please contact J. Brandon Walker, Esq. by email at bwalker@kmllp.com,
by telephone at (212) 699-1145 or (888) 529-4787, or by filling
out this contact form.
Kirby McInerney LLP is a New York-based law firm concentrating in
securities, shareholder, whistleblower, antitrust and consumer
litigation. For additional information, please go to www.kmllp.com.
Copyright Business Wire 2013