Robbins Umeda LLP has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by members of the Board of Directors of NBTY, Inc. ("NBTY" or the "Company") (NYSE: NTY) in connection with their efforts to sell NBTY to The Carlyle Group. If the transaction is completed, NBTY shareholders will receive $55.00 in cash for each share of NBTY stock they hold. The transaction is expected to close by the end of 2010.
Robbins Umeda LLP's investigation concerns whether the Board of Directors of NBTY undertook a fair process to obtain fair consideration for all shareholders of NBTY. Notably, the Company's stock hit a 52-week high of $51.00 per share on April 15, 2010. The offer by The Carlyle Group represents only an approximate 7% premium over this high. Despite the Company's promise and continued growth over the past few months, its fiduciaries still decided to sell NBTY at this time and at this price.
If you are a shareholder of NBTY, plan to continue to hold your shares, and would like more information about your rights as a shareholder, please contact attorney Gregory E. Del Gaizo at 800-350-6003 or by e-mail at firstname.lastname@example.org.
Robbins Umeda LLP is a California-based law firm with significant experience representing investors in merger-related shareholder class actions, shareholder derivative actions, and securities fraud class actions. For more information about the firm, please go to http://www.robbinsumeda.com.Advertisement