Caraco Pharmaceutical Laboratories, Ltd. Being Invested On Breach of Fiduciary Duties
By Avik, Gaea News NetworkWednesday, December 22, 2010
DETROIT (GaeaTimes.com) — Ryan & Maniskas, LLP (www.rmclasslaw.com/cases/cpd) is investigating potential claims against the board of directors of Caraco Pharmaceutical Laboratories, Ltd. (”Caraco” or the “Company”) (AMEX: CPD) concerning the Company’s receipt of a proposal from Sun Pharmaceutical Industries Ltd. (”Sun”) and Sun Pharma Global, Inc. (”Sun Global”) to acquire the remainder of the Company Sun and Sun Global do not already own in a transaction valued at approximately $188 million.
Our investigation concerns whether Caraco’s Board undertook a fair process to obtain fair consideration for all shareholders of Caraco; in particular, whether the Company’s Board breached their fiduciary duties to Caraco shareholders by failing to adequately shop the Company. For more information regarding our investigation, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at rmaniskas@rmclasslaw.com or visit: www.rmclasslaw.com/cases/cpd.
Under the terms of the proposed transaction, Caraco shareholders are to receive $4.75 in cash for each share they own, which represents a 5% premium over the closing price of Caraco common stock on December 2, 2010. Sun and Sun Global already own approximately 75.8% of the Company’s outstanding shares.
If you own shares of Caraco and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218 or to sign up online, visit: www.rmclasslaw.com/cases/cpd. You may also email Mr. Maniskas at rmaniskas@rmclasslaw.com. For more information about class action cases in general, please visit our website: www.rmclasslaw.com.
