SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Investors of Claims of
Breaches of Fiduciary Duty by the Board of Hi-Tech Pharmacal Co. in Connection
With the Sale of the Company to Akorn, Inc. -- HITK
NEW YORK, Sept. 12, 2013 (GLOBE NEWSWIRE) -- Levi & Korsinsky notifies
investors of Hi-Tech Pharmacal Co. ("Hi-Tech" or the "Company") (Nasdaq:HITK)
of claims of breaches of fiduciary duty and other violations of state law
against the board of directors of the Company in connection with the sale of
the Company to Akorn, Inc. (Nasdaq:AKRX). A complaint was filed in Delaware
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http://zlk.9nl.com/hi-tech-pharmacal-hitk/, or call: 877-363-5972. There is no
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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 claims concern 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 own Hi-Tech common stock 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 visit
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
CONTACT: Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
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