Levi & Korsinsky is investigating the Board of Directors of China Shengda Packaging Group Inc. (“China Shengda Packaging” or the “Company”) (NasdaqGM: CPGI) for possible breaches of fiduciary duty and other violations of state law in connection with the proposed sale of the Company to its Chairman, Mr. Nengbin Fang.
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Mr. Fang and his family collectively own approximately 54% of the Company’s common stock. Under the terms of the proposed transaction, China Shengda Packaging shareholders would receive $1.40 per share in cash. The investigation concerns, among other things, whether the proposed consideration to be paid to China Shengda Packaging shareholders is unfair, inadequate, and substantially below the fair or inherent value of China Shengda Packaging, and whether Mr. Fang is taking advantage of his family’s position as controlling shareholders in order to purchase the Company at an unfair price. In particular, at least one analyst set a price target for China Shengda Packaging stock at $3.50 per share.
If you own common stock in China Shengda Packaging and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at
or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or
Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.