The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into the Possible Breaches of Fiduciary Duty by the Board of ...
07 December 2010 - 2:27AM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
Caraco Pharmaceutical Laboratories Ltd. (“Caraco” or the “Company”)
(AMEX: CPD) for possible breaches of fiduciary duty and other
violations of state law in connection with their attempt to sell
the Company to Sun Pharmaceutical Industries (“Sun Pharma”) and Sun
Pharma Global, Inc. in a going private transaction. Under the terms
of the transaction, Caraco shareholders will receive $4.75 per
share in cash for each share they own.
Click here to learn how to join the action:
http://www.zlk.com/caraco-cpd.html, or call: 877-363-5972.
The investigation concerns whether the Caraco Board of Directors
breached their fiduciary duties to Caraco stockholders by failing
to adequately shop the Company before entering into this
transaction and whether Sun Pharma is underpaying for Caraco
shares. In particular, Caraco stock has traded above the offer
price for most of the time since August 2010, and has traded as
high as $6.66 on August 9, 2010 -- nearly two dollars above the
offer price.
If you own common stock in Caraco and wish to obtain additional
information, please contact Joseph E. Levi, Esq. either via email
at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free:
(877) 363-5972, or visit http://www.zlk.com/caraco-cpd.html.
Levi & Korsinsky has expertise in prosecuting investor
securities litigation and extensive experience in actions involving
financial fraud and represents investors throughout the nation,
concentrating its practice in securities and shareholder
litigation. 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 litigations
involving mergers and acquisitions. For more information, please
feel free to contact any of the attorneys listed below. Attorney
advertising. Prior results do not guarantee similar outcomes.
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