Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Caraco Pharmaceutical Laboratories Ltd. (“Caraco” or the “Company”) (AMEX: CPD) for potential breaches of fiduciary duties in connection with their conduct related to the receipt of a $188 million bid from Sun Pharmaceutical Industries Ltd. (“Sun”) and Sun Pharma Global, Inc. (“Sun Global”) to acquire all of the outstanding shares of common stock of Caraco not held by Sun or Sun Global. Sun owns approximately 75.5% of Caraco’s common stock. The proposed transaction offers Caraco shareholders to only receive $4.75 per share in cash.
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Whether the Caraco’s Board of Directors breached their fiduciary duties to Caraco’s stockholders by failing to conduct an adequate and fair sales process to sell the Company prior to agreeing to this proposed transaction, whether the proposed transaction undervalues Caraco’s shares and by how much this proposed transaction undervalues the Company to the detriment of Caraco shareholders are the key focus of this investigation.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, through all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm’s clients.
If you own common stock in Caraco and wish to obtain additional information, please visit us at www.faruqilaw.com/CPD or contact Juan E. Monteverde, Esq. either via e-mail at email@example.com or by telephone at (877) 247-4292 or (212) 983-9330.
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Last updated on: 09/12/2010