Weiss & Lurie, a national class action and shareholder rights law firm with offices in New York City and Los Angeles, is investigating potential claims against members of the Board of Directors of Caraco Pharmaceuticals Laboratories Ltd. (AMEX: CPD), Sun Pharmaceuticals Laboratories Ltd. and Sun Pharma Global, Inc. (“Sun Pharma”), arising from Caraco’s receipt of a proposal by Sun Pharma and/or one or more of their affiliates to acquire the remainder of Caraco shares not already owned by Sun Pharma, in a potential transaction offering Caraco public shareholders $4.75 in cash for each share of Caraco stock they hold. In response to the proposal, Caraco shares closed at $5.13 per share on December 6, 2010. Caraco shares were trading as high as $6.66 as of August 9, 2010.
Weiss & Lurie is investigating whether Caraco’s Board is acting in the best interests of its public shareholders in seeking to maximize shareholder value by adequately shopping Caraco and whether the sales process is unfair to Caraco public shareholders in light of the fact that Sun Pharma already owns approximately 75.8% of Caraco’s outstanding shares.
If you own common stock in Caraco and would like more information about your rights as a shareholder or additional information concerning our investigation, please contact Michael A. Rogovin either by email at email@example.com or by telephone at (888) 593-4771. Weiss & Lurie has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded institutions and individuals and obtained important corporate governance in these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (such as insider trading, waste of corporate assets, accounting fraud, or issuing materially misleading press releases or SEC filings), consumer fraud (such as false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org or fill out the form on our website, http://www.weisslurie.com/contact/report_fraud/.
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