Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the acquisition of Hi-Tech Pharmacal Co., Inc. (“Hi-Tech”) (NasdaqGS: HITK) by Akorn, Inc. for shareholders. Under the terms of the proposed merger agreement, which is valued at $640 million, Hi-Tech shareholders are only expected to receive $43.50 in cash per share of Hi-Tech stock owned. This is well below the 52-week high of $44.33 for Hi-Tech shares.
If you are an affected investor, and you want to learn more about the lawsuit or join the action, please contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, via email at WBriscoe@TheBriscoeLawFirm.com or Zach Groover at Powers Taylor, LLP, toll free (877) 728-9607 or via e-mail at firstname.lastname@example.org. There is no cost or fee to you.
The Hi-Tech sale investigation centers on whether shareholders are receiving adequate compensation for their shares in the proposed deal, whether the transaction properly values Hi-Tech stock, and whether Hi-Tech’s board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal.
The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.