Rigrodsky & Long, P.A. Investigates NBTY, Inc. Buyout
15 Luglio 2010 - 4:18PM
Business Wire
Rigrodsky & Long, P.A. announces that it is investigating
potential claims against the board of directors of NBTY, Inc.
(“NBTY” or the “Company”) (NYSE: NTY) concerning possible breaches
of fiduciary duty and other violations of law related to the
Company’s entry into an agreement to be acquired and taken private
by The Carlyle Group in a transaction valued at approximately $3.8
billion. (http://www.rigrodskylong.com/news/NBTYInc.-NTY).
Under the proposed agreement, NBTY shareholders will receive
$55.00 in cash for each share of NBTY common stock they hold. The
investigation concerns whether NBTY’s board of directors failed to
adequately shop the Company and obtain the best price possible for
NBTY’s shareholders before entering into the agreement with The
Carlyle Group.
As recent as April 26, 2010, NBTY reported its fiscal second
quarter 2010 financial results wherein the Company announced net
sales were $705 million, compared to $596 million for the fiscal
second quarter ended March 31, 2009, an increase of $110 million or
18% and net income for the fiscal second quarter ended March 31,
2010 was $47 million, or $0.73 per diluted share, compared to net
income of $23 million, or $0.37 per diluted share, for the fiscal
second quarter ended March 31, 2009.
If you own the common stock of NBTY and purchased your shares
before July 15, 2010, if you have information or would like to
learn more about these claims, or if you wish to discuss these
matters or have any questions concerning this announcement or your
rights or interests with respect to these matters, please contact
Seth D. Rigrodsky, Esquire or Noah R. Wortman, Case Development
Director, of Rigrodsky & Long, P.A., 919 N. Market Street,
Suite 980, Wilmington, Delaware, by telephone at (888) 969-4242, or
by e-mail to info@rigrodskylong.com.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware
and Garden City, New York, regularly litigates securities class,
derivative and direct actions, shareholder rights litigation and
corporate governance litigation, including claims for breach of
fiduciary duty and proxy violations in the Delaware Court of
Chancery and in state and federal courts throughout the United
States.
Attorney advertising. Prior results do not guarantee a similar
outcome.
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