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HI-TECH PHARMACAL CO. SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation Into Possible Breaches Of Fiduciary Duty By The Board Of Hi-Tech Pharmacal Co.

NEW YORK, Aug. 30, 2013 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of Hi-Tech Pharmacal Co. ("Hi-Tech" or the "Company") (Nasdaq: HITK) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Akorn, Inc. (Nasdaq: AKRX).

(Logo: http://photos.prnewswire.com/prnh/20120409/MM84375LOGO)

Click here to learn more about the investigation http://zlk.9nl.com/hi-tech-pharmacal-hitk/ , or call: 877-363-5972. There is no cost or obligation to you.

Under the terms of the transaction, Hi-Tech shareholders will receive $43.50 for each share of Hi-Tech stock they own. The transaction has a total approximate value of $640 million. The investigation concerns whether the Hi-Tech Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Akorn, Inc. is underpaying for Hi-Tech shares.

If you and own Hi-Tech common stock and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/hi-tech-pharmacal-hitk/

Levi & Korsinsky is a national firm with offices in New York, New Jersey 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.

CONTACT:     Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq.30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500Toll Free:  (877) 363-5972Fax: (212) 363-7171 www.zlk.com

SOURCE Levi & Korsinsky, LLP

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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