Law office of Brodsky & Smith, LLC announces that it is investigating
potential claims against the Board of Directors of Hi-Tech Pharmacal Co.
(“Hi-Tech” or the “Company”) (Nasdaq: HITK) relating to the proposed
acquisition by Akorn, Inc. (“Akorn”).
Click here to learn more about the investigation http://brodsky-smith.com/632-hitk-hi-tech-pharmacal-co.html,
or call: 877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction, Hi-Tech shareholders will receive
only $43.50 in cash for each share of Hi-Tech stock they own. The
investigation concerns possible breaches of fiduciary duty and other
violations of state law by the Board of Directors of Hi-Tech for not
acting in the Company’s shareholders' best interests in connection with
the sale process. The transaction may undervalue the Company as after
the acquisition of Hi-Tech is completed Akorn will become the
third-largest drug company focused on ophthalmic treatments. In
addition, the transaction will provide Akorn with an expanded line of
over-the-counter sinus products and will result in an estimated cost
savings of $15 million annually.
If you own shares of Hi-Tech common stock and wish to discuss the legal
ramifications of the proposed transaction, or have any questions, you
may e-mail or call the law office of Brodsky & Smith, LLC who will,
without obligation or cost to you, attempt to answer your questions. You
may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at
Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004,
by e-mail at investorrelations@brodsky-smith.com,
by visiting http://brodsky-smith.com/632-hitk-hi-tech-pharmacal-co.html,
or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise
representing shareholders throughout the nation in securities and case
action lawsuits. The attorneys at Brodsky & Smith have been appointed by
numerous courts throughout the country to serve as lead counsel in class
actions and successfully recovered millions of dollars for our clients
and shareholders. Attorney advertising. Prior results do not guarantee a
similar outcome.
Copyright Business Wire 2013