NEW YORK, Oct. 3, 2012 /PRNewswire/ -- Tripp Levy PLLC, a leading national securities law firm, announces that it is investigating the acquisition of Feihe International, Inc. (NYSE: ADY) by its Chairman and CEO. Feihe announced that its Board of Directors has received a proposal from Mr. You-Bin Leng ("Mr. Leng"), the Company's Chairman and Chief Executive Officer, and an affiliate of Morgan Stanley Private Equity Asia to acquire all of the outstanding shares of common stock of the Company not currently owned by Mr. Leng (and possibly other rollover shareholders) in a going private transaction for $7.40 per share of common stock in cash. Mr. Leng currently owns 45.34% of the Company's common stock. The investigation concerns whether Mr. Leng and the board of directors of Feihe breached their fiduciary duties in allowing Mr. Leng to acquire the company for an unfairly low price. Indeed, the company's book value alone is $9.54 per share, and analysts have projected the company's true inherent value is in excess of $9 per share. If you are a shareholder of Feihe and would like additional information concerning this matter and your rights as a shareholder, please contact us toll free at 877-772-3975 or email at email@example.com Tripp Levy PLLC is a leading national law firm and has recovered millions of dollars for shareholders in similar actions around the globe. Attorney advertising – prior results do not guarantee a similar outcome. Tripp Levy PLLC877-772-3975 firstname.lastname@example.org SOURCE Tripp Levy PLLC
Shares of Feihe International (NYSE:ADY) were gapping up Thursday morning with an open price 10.6% higher than Wednesday's closing price. The stock closed at $5.87 yesterday and opened today's trading at $6.49.