Robbins Umeda LLP Announces an Investigation of the Acquisition of NBTY, Inc. by The Carlyle Group
July 15 2010 - 8:06PM
Business Wire
Robbins Umeda LLP has commenced an investigation into possible
breaches of fiduciary duty and other violations of state law by
members of the Board of Directors of NBTY, Inc. ("NBTY" or the
"Company") (NYSE: NTY) in connection with their efforts to sell
NBTY to The Carlyle Group. If the transaction is completed, NBTY
shareholders will receive $55.00 in cash for each share of NBTY
stock they hold. The transaction is expected to close by the end of
2010.
Robbins Umeda LLP's investigation concerns whether the Board of
Directors of NBTY undertook a fair process to obtain fair
consideration for all shareholders of NBTY. Notably, the Company's
stock hit a 52-week high of $51.00 per share on April 15, 2010. The
offer by The Carlyle Group represents only an approximate 7%
premium over this high. Despite the Company's promise and continued
growth over the past few months, its fiduciaries still decided to
sell NBTY at this time and at this price.
If you are a shareholder of NBTY, plan to continue to hold your
shares, and would like more information about your rights as a
shareholder, please contact attorney Gregory E. Del Gaizo at
800-350-6003 or by e-mail at info@robbinsumeda.com.
Robbins Umeda LLP is a California-based law firm with
significant experience representing investors in merger-related
shareholder class actions, shareholder derivative actions, and
securities fraud class actions. For more information about the
firm, please go to http://www.robbinsumeda.com.
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