Management Buyout of Zhongpin - Shareholder Investigation
NEW YORK, March 27, 2012 /PRNewswire/ -- Tripp Levy PLLC, a leading national securities law firm, is investigating the Board of Directors of Zhongpin Inc. ("Zhongpin" or the "Company") (Nasdaq: HOGS) for possible breaches of fiduciary duty and other violations of state law in connection with the receipt of a going private proposal from its Chairman and Chief Executive Officer, Mr. Xianfu Zhu. According to the terms of the proposal, Zhu would acquire all outstanding shares of the Company's common stock for $13.50 per share. Zhu currently owns approximately 17.5% of the Company's stock.
The investigation concerns, among other things, whether the consideration to be paid to Zhongpin shareholders is unfair, inadequate, and substantially below the fair or inherent value of Zhongpin, and whether Zhu is a controlling shareholder that is taking advantage of his position to purchase the Company at an unfair price.
If you own common stock in Zhongpin and wish to obtain additional information, please contact us at:
Tripp Levy PLLC
Toll free: 877-772-3975
SOURCE Tripp Levy PLLC