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.
Morgan & Morgan is one of the nation's largest 200 law firms. In addition to securities fraud, the firm also practices in the areas of antitrust, personal injury, consumer protection, wage and hour, and product liability. All of the Firm's legal endeavors are rooted in its core mission: provide investor and consumer protection and always fight "for the people."
Attorney advertising. Prior results do not guarantee a similar outcome.
Morgan & Morgan
Peter Safirstein, Esq.
28 West 44th Street
New York, NY 10036
SOURCE Morgan & Morgan