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The Law Office of Abe Shainberg Launches an Investigation into the Possible Breaches of Fiduciary Duty by the Board of Caraco P

^{Published on 2010-12-08 01:00:40 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--The Law Office of Abe Shainberg is investigating the Board of Directors of Caraco Pharmaceutical Laboratories Ltd. (AMEX: CPD) for possible breaches of fiduciary duty and other violations of state law in connection with the Company's receipt of a proposal to be acquired by Sun Pharmaceutical Industries ("Sun") and Sun Pharma Global, Inc. ("Sun Global") in a going private transaction. Under the terms of the proposed transaction, Caraco shareholders will receive $4.75 per share. Collectively, Sun and Sun Global own approximately 75% of Caracoa™s outstanding shares.

The investigation concerns whether the Caraco Board of Directors breached their fiduciary duties to Caraco stockholders by failing to take the necessary steps to maximize shareholder value. Caraco stock has traded as high as $6.66 per share on August 9, 2010.

If you own common stock in Caraco and wish to obtain additional information, please contact Abe Shainberg, Esq. either via email at [ as@ashainberglaw.com ] or by telephone at (212) 425-7286, or visit [ http://www.ashainberglaw.com/caraco-pharma-cpd.html ].

Mr. Shainberg has expertise in prosecuting investor securities litigation, is a certified and registered arbitrator and mediator involving financial matters, and represents investors in various matters nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.