WAYNE, Pa., Aug. 28, 2013 /PRNewswire/ -- Ryan & Maniskas, LLP is investigating potential claims against the board of directors of Hi-Tech Pharmacal Co., Inc. ("Hi-Tech" or the "Company") (NASDAQ: HITK) concerning possible breaches of fiduciary duty and other violations of law related to the Company's efforts to sell the Company to Akorn, Inc. in a transaction valued at approximately $640 million.
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If you own shares of Hi-Tech would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218 or to sign up online, visit: www.rmclasslaw.com/cases/hitk. You may also email Mr. Maniskas at rmaniskas@rmclasslaw.com.
Our investigation concerns possible breaches of fiduciary duty and other violations of state law by Hi-Tech's Board of Directors for not acting in the Company's shareholders' best interests in connection with the sale process. Under the terms of the agreement, shareholders of Hi-Tech will receive $43.50 per share in cash for each share of Hi-Tech they own.
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide. To learn more about the class action process, please visit: www.rmclasslaw.com.
SOURCE Ryan & Maniskas, LLP
