NBTY, Inc. Board Being Investigated By The Law Office Of Joseph Klein Following Bid By The Carlyle Group - NTY
The Law Office of Joseph Klein is investigating the Board of Directors of NBTY, Inc. (NYSE: NTY) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to The Carlyle Group ("Carlyle"). Under the terms of the transaction, NBTY shareholders will receive $55.00 in cash for each NBTY share of common stock they own for a total transaction value of approximately $3.8 billion.
For the quarter ending March 31, 2010, NBTY reported total revenue of $705.160 million and net income of $46.656 million as compared to total revenue and net income of $595.553 million and $23.070 million, respectively, for the same quarter in the prior year. The investigation concerns whether the NBTY Board of Directors breached their fiduciary duties to NBTY stockholders by failing to adequately shop the Company before entering into this transaction and whether Carlyle is underpaying for NBTY shares, thus unlawfully harming NBTY stockholders. In particular, the offer price is only a marginal premium over the $51.00 price the Company's shares traded at as recently as April 15, 2010.
If you own common stock in NBTY and wish to obtain additional information about this investigation and what is being done to advance the shareholders’ interests, please contact Joseph Klein, Esq. directly, via email at email@example.com, by telephone at 718-947-0005, Toll Free: 877-STOK-180, or http://www.jkleinlawfirm.com/nbty-nty.html. All consultations are confidential and free of charge.
To share your views on the proposed merger transaction and to see how other shareholders plan on voting, go to http://buyoutorsellout.com/web/mergers/nbty.html.Joseph Klein, Esq. is an experienced attorney and has also practiced as a Certified Public Accountant. Mr. Klein represents investors and participates in securities litigations involving financial fraud throughout the nation.
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