Morgan & Morgan Announces the Investigation of Hi-Tech Pharmacal Co., Inc. HITK
NEW YORK, Aug. 28, 2013 /PRNewswire/ -- Morgan & Morgan announces that it is investigating potential legal claims against the board of directors of Hi-Tech Pharmacal Co., Inc. ("Hi-Tech" or the "Company") regarding possible breaches of fiduciary duties and other violations of law related to the sale of the Company to Akorn, Inc., in a transaction valued at approximately $640 million.
If you purchased Hi-Tech, and want more information about the Hi-Tech takeover investigation, please contact George Pressly, Esq. at 1(800) 631-6234 or email George at AskGeorge@morgansecuritieslaw.com.
Morgan & Morgan's investigation concerns whether the Hi-Tech Board of Directors breached their fiduciary duties to stockholders to act in the best interest of Hi-Tech shareholders and to take all necessary steps to ensure that Hi-Tech shareholders receive the maximum value readily available for their shares of Hi-Tech stock. 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.
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SOURCE Morgan & Morgan