Rigrodsky & Long, P.A. Announces Investigation Of Hi-Tech Pharmacal Co., Inc. Buyout


Rigrodsky & Long, P.A. Announces Investigation Of Hi-Tech Pharmacal Co., Inc. Buyout

WILMINGTON, Del.--(BUSINESS WIRE)-- Rigrodsky & Long, P.A.:

  • Do you own shares of Hi-Tech Pharmacal Co., Inc. (NASDAQ GS:HITK)?

  • Did you purchase any of your shares prior to August 27, 2013?

  • Do you think the proposed buyout price is too low?

  • Do you want to discuss your rights?

Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Hi-Tech Pharmacal Co., Inc. ("Hi-Tech" or the "Company") (NASDAQ GS: HITK) regarding possible breaches of fiduciary duties and other violations of law related to the Company's entry into an agreement to be acquired by Akorn, Inc. ("Akorn") (NASDAQ GS: AKRX) in a transaction valued at approximately $640 million.

Click here to learn more: http://www.rigrodskylong.com/investigations/hi-tech-pharmacal-co-inc-hitk.

Under the terms of the agreement, public shareholders of Hi-Tech will receive $43.50 per share in cash for each share of Hi-Tech they own.

The investigation concerns whether Hi-Tech's board of directors failed to adequately shop the Company and obtain the best possible value for Hi-Tech's shareholders before entering into an agreement with Akorn.

If you own the common stock of Hi-Tech and purchased your shares before August 27, 2013, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brian Long or Shaye Fuchs at Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530, by telephone at (888) 969-4242; by e-mail to info@rl-legal.com, or at: http://www.rigrodskylong.com/investigations/hi-tech-pharmacal-co-inc-hitk.

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.

Attorney advertising. Prior results do not guarantee a similar outcome.

Rigrodsky & Long, P.A.
Brian Long
Shaye Fuchs
Fax: 302-654-7530

KEYWORDS: United States North America Delaware New York


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