The Law Firm Of Levi & Korsinsky, LLP Announces Investigation Into Possible Breaches Of Fiduciary Duty By The Board Of Feihe International, Inc. In Connection With The Proposed Sale Of The Company To Its Chairman And CEO
Levi & Korsinsky is investigating the Board of Directors of Feihe International, Inc. (“Feihe International” or the “Company”) (NYSE: ADY) for possible breaches of fiduciary duty and other violations of state law in connection with the proposed sale of the Company to You-Bin Leng, the Company’s Chairman and Chief Executive Officer, and an affiliate of Morgan Stanley Private Equity Asia. Click here to learn how to join the action: http://zlk.9nl.com/feihe-international-ady/, or call: 877-363-5972. There is no cost or obligation to you. Under the terms of the proposed transaction, Feihe International shareholders would receive $7.40 for each share of Feihe International they own. Leng currently owns 45.34% of the Company’s common stock. The investigation concerns, among other things, whether the consideration to be paid to Feihe International shareholders is unfair, inadequate, and substantially below the fair or inherent value of Feihe International, and whether Leng is taking advantage of his position as a controlling shareholder in order to purchase the Company at an unfair price. Feihe International stock has a reported book value of $9.54 per share for the most recent quarter. If you own common stock in Feihe International and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or http://zlk.9nl.com/feihe-international-ady/. 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.
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.