Health & Fitness
Tue, April 24, 2012
NEW YORK--([ BUSINESS WIRE ])--Levi & Korsinsky is investigating the Board of Directors of Shengtai Pharmaceutical, Inc. (aShengtaia or the aCompanya) (OTC: SGTI) for possible breaches of fiduciary duty and other violations of state law in connection with the receipt of a going private proposal from its Chairman and Chief Executive Officer, Mr. Qingtai Liu (aMr. Liua). According to the terms of the proposal, Mr. Liu would acquire all outstanding shares of the Companyas common stock for $1.65 per share. Mr. Liu and his affiliates currently own approximately 40.5% of the Companyas common stock.
Click here to learn how to join the action: [ http://www.zlk.com/shengtai-pharmaceutical-sgti ], or call: 877-363-5972. There is no cost or obligation to you.
The investigation concerns, among other things, whether the consideration to be paid to Shengtai shareholders is unfair, inadequate, and substantially below the fair or inherent value of Shengtai, and whether Liu is a controlling shareholder that is taking advantage of his position to purchase the Company at an unfair price. In particular, the Company reported a book value of $6.40 per share for the most recent quarter.
If you own common stock in Shengtai 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 [ http://www.zlk.com ].
Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. 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 securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
