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Law Firm Kirby McInerney LLP Investigating Potential Claims On Behalf Of Hi-Tech Pharmacal Co., Inc. Shareholders

Kirby McInerney LLP is investigating potential claims against the Board of Directors of Hi-Tech Pharmacal Co., Inc. (“Hi-Tech” or the “Company”) (NASDAQ:HITK) related to the proposed acquisition of the Company by Akorn, Inc. (“Akorn”). Under the terms of the agreement, Akorn will acquire all of the outstanding common stock of Hi-Tech for $43.50 per share in cash, for a total transaction value of approximately $640 million.

The investigation concerns whether the Hi-Tech Board of Directors violated their fiduciary duties in agreeing to the proposed transaction and whether the $43.50 per share consideration adequately values Hi-Tech shares.

If you are a Hi-Tech shareholder and wish to obtain additional information, please contact J. Brandon Walker, Esq. by email at bwalker@kmllp.com, by telephone at (212) 699-1145 or (888) 529-4787, or by filling out this contact form.

Kirby McInerney LLP is a New York-based law firm concentrating in securities, shareholder, whistleblower, antitrust and consumer litigation. For additional information, please go to www.kmllp.com.

Stock quotes in this article: HITK 
Copyright Business Wire 2010

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