Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of Feihe International, Inc. (“Feihe International” or the “Company”) (NYSE: ADY) (ISIN: US31429Y1038) concerning the proposed acquisition of Feihe International by You-Bin Leng, its Chairman and Chief Executive Officer, and an affiliate of Morgan Stanley Private Equity Asia in a cash transaction valued at approximately $146 million. The investigation concerns whether the Feihe International directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the going private proposal, Feihe International shareholders would receive $7.40 in cash per share of Feihe International common stock. However, the Company has traded as high as $9.30 per share in the past six months. Feihe International shareholders seeking more information about this going private proposal are advised to contact Samuel J. Adams at firstname.lastname@example.org or 212-661-1100 or 888-476-6529, ext. 300. The Pomerantz Firm, with offices in New York, Chicago and San Diego, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.
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.