Levi & Korsinsky is investigating the Board of Directors of Caraco Pharmaceutical Laboratories Ltd. for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to in a going private transaction.
New York, NY, December 07, 2010 -- 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 email@example.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.
Contact: Levi & Korsinsky, LLP, Joseph Levi, Esq., Eduard Korsinsky, Esq., 30 Broad Street - 15th Floor, New York, NY 10004, Tel: (212) 363-7500, Toll Free: (877) 363-5972, Fax: (212) 363-7171, www.zlk.com
Levi & Korsinsky, LLP
30 Broad Street, 15th Floor
New York, NY 10004