SHAREHOLDER ALERT: Law Office of Brodsky & Smith, LLC Announces Investigation of Hi-Tech Pharmacal Co.
BALA CYNWYD, Pa.--(BUSINESS WIRE)-- 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") (NAS: 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 firstname.lastname@example.org, 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.
Brodsky & Smith, LLC
Jason L. Brodsky, Esquire
Evan J. Smith, Esquire
KEYWORDS: United States North America Pennsylvania
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