The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into Possible Breaches of Fiduciary Duty by the Board of Kend...
May 05 2011 - 3:07PM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
Kendle International, Inc. (“Kendle” or the “Company”) (Nasdaq:
KNDL) for possible breaches of fiduciary duty and other violations
of state law in connection with the sale of the Company to INC
Research, LLC. Under the terms of the transaction, Kendle
shareholders will receive $15.25 per share of Kendle stock they own
for a total transaction value of approximately $232 million.
Click here to learn how to join the action:
http://www.zlk.com/kendle-international-kndl.html, or call:
877-363-5972.
The investigation concerns whether the Kendle Board of Directors
breached their fiduciary duties to Kendle stockholders by failing
to adequately shop the Company before entering into this
transaction and whether INC Research, LLC is underpaying for Kendle
shares, thus unlawfully harming Kendle stockholders. In particular,
Kendle reported a book value of $15.46 per share for the most
recent quarter and at least one analyst set a price target for
Kendl stock at $18.00 per share.
If you own common stock in Kendle 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 visit
http://www.zlk.com/kendle-international-kndl.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.
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