The Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Feihe ...
04 Oktober 2012 - 4:39PM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
Feihe International, Inc. (“Feihe International” or the “Company”)
(NYSE: ADY) for possible breaches of fiduciary duty and other
violations of state law in connection with the proposed sale of the
Company to You-Bin Leng, the Company’s Chairman and Chief Executive
Officer, and an affiliate of Morgan Stanley Private Equity
Asia.
Click here to learn how to join the action:
http://zlk.9nl.com/feihe-international-ady/, or call:
877-363-5972. There is no cost or obligation to you.
Under the terms of the proposed transaction, Feihe International
shareholders would receive $7.40 for each share of Feihe
International they own. Leng currently owns 45.34% of the Company’s
common stock. The investigation concerns, among other things,
whether the consideration to be paid to Feihe International
shareholders is unfair, inadequate, and substantially below the
fair or inherent value of Feihe International, and whether Leng is
taking advantage of his position as a controlling shareholder in
order to purchase the Company at an unfair price. Feihe
International stock has a reported book value of $9.54 per share
for the most recent quarter.
If you own common stock in Feihe International 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://zlk.9nl.com/feihe-international-ady/.
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.
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