Rigrodsky & Long, P.A.:
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Do you own shares of Hi-Tech Pharmacal Co., Inc. (NASDAQ GS: HITK)?
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Did you purchase any of your shares prior to August 27, 2013?
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Do you think the proposed buyout price is too low?
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Do you want to discuss your rights?
Rigrodsky
& Long, P.A. announces that it is investigating potential legal
claims against the board of directors of Hi-Tech Pharmacal Co., Inc.
(“Hi-Tech” or the “Company”) (NASDAQ GS: HITK)
regarding possible breaches of fiduciary duties and other violations of
law related to the Company’s entry into an agreement to be acquired by
Akorn, Inc. (“Akorn”) (NASDAQ GS: AKRX)
in a transaction valued at approximately $640 million.
Click here to learn more: http://www.rigrodskylong.com/investigations/hi-tech-pharmacal-co-inc-hitk.
Under the terms of the agreement, public shareholders of Hi-Tech will
receive $43.50 per share in cash for each share of Hi-Tech they own.
The investigation concerns whether Hi-Tech’s board of directors failed
to adequately shop the Company and obtain the best possible value for
Hi-Tech’s shareholders before entering into an agreement with Akorn.
If you own the common stock of Hi-Tech and purchased your shares before
August 27, 2013, if you have information or would like to learn more
about these claims, or if you wish to discuss these matters or have any
questions concerning this announcement or your rights or interests with
respect to these matters, please contact Brian Long or Shaye Fuchs at
Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City,
New York 11530, by telephone at (888) 969-4242; by e-mail to info@rl-legal.com,
or at: http://www.rigrodskylong.com/investigations/hi-tech-pharmacal-co-inc-hitk.
Rigrodsky
& Long, P.A., with offices in Wilmington, Delaware and Garden
City, New York, regularly prosecutes securities
class, derivative and direct actions, shareholder rights litigation and
corporate governance litigation, on behalf of shareholders in states
and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar outcome.
Copyright Business Wire 2013