Health & Fitness
Tue, April 17, 2012
DALLAS--([ BUSINESS WIRE ])--Former United States Securities and Exchange Commission attorney [ Willie Briscoe ] and the securities litigation firm of [ Powers Taylor, LLP ] are investigating potential legal claims against the Board of Directors of [ Shengtai Pharmaceutical ] (aShengtaia or aSGTIa) (OTCBB: SGTI) related to a going private proposal from its Chairman. Under the terms of the proposal, Shengtaias Chairman and Chief Executive Officer, Mr. Qingtai Liu, would acquire all outstanding share of Shengtaias common stock for $1.65 per share, well below the 52 week high of $1.99 per share. Mr. Liu currently owns approximately 40.5% of the companyas stock.
If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at [ patrick@powerstaylor.com ], or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at [ WBriscoe@TheBriscoeLawFirm.com ]. There is no cost or fee to you.
According to shareholder rights attorney Willie Briscoe, athe investigation relates to the fairness of the proposed transaction to Shengtai shareholders and whether the Board of Directors is adequately shopping the company in order to obtain the best possible price for the shareholders. In addition, the firms are actively investigating possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Shengtai in connection with the potential approval of this transaction, and whether Shengtaias Board of Directors is acting in the shareholdersa best interests.a
[ The Briscoe Law Firm, PLLC ] is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
[ Powers Taylor, LLP ] is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.