NEW YORK, Aug. 27, 2013 /PRNewswire/ -- Bernstein Liebhard LLP is investigating whether the Board of Directors of Hi-Tech Pharmacal Co., Inc. ("Hi-Tech" or the "Company") (NASDAQ: HITK) breached its fiduciary duty to its shareholders in agreeing to sell Hi-Tech to Akorn, Inc.
Under the terms of the agreement, Hi-Tech shareholders will receive $43.50 in cash for each share they own. The investigation is focused on the potential unfairness of the price to Hi-Tech shareholders and the process by which the Hi-Tech Board of Directors considered and approved the transaction.
If you are interested in discussing your rights as an Hi-Tech stockholder, with no obligation or cost to you, please contact U. Seth Ottensoser at:
(877) 779-1414 or Ottensoser@bernlieb.com.
Bernstein Liebhard LLP has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3 billion for its clients. It has been named to The National Law Journal's "Plaintiffs' Hot List" in each of the last ten years.
Bernstein Liebhard LLP 10 East 40th Street New York, New York 10016 (877) 779-1414 www.bernlieb.com
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SOURCE Bernstein Liebhard LLP