Shengtai Pharmaceutical Going Private Proposal Investigated by the Securities Attorneys at The Briscoe Law Firm & Powers Tayl...
April 17 2012 - 10:26AM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe and the securities litigation firm of Powers Taylor,
LLP are investigating potential legal claims against the Board of
Directors of Shengtai Pharmaceutical (“Shengtai” or “SGTI”) (OTCBB:
SGTI) related to a going private proposal from its Chairman. Under
the terms of the proposal, Shengtai’s Chairman and Chief Executive
Officer, Mr. Qingtai Liu, would acquire all outstanding share of
Shengtai’s common stock for $1.65 per share, well below the 52 week
high of $1.99 per share. Mr. Liu currently owns approximately 40.5%
of the company’s stock.
If you are an affected investor, and you want to learn more
about the lawsuit or join the action, contact Patrick Powers at
Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at
patrick@powerstaylor.com, or Willie Briscoe at The Briscoe Law
Firm, PLLC, (214) 706-9314, or via email at
WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
According to shareholder rights attorney Willie Briscoe, “the
investigation relates to the fairness of the proposed transaction
to Shengtai shareholders and whether the Board of Directors is
adequately shopping the company in order to obtain the best
possible price for the shareholders. In addition, the firms are
actively investigating possible breaches of fiduciary duty and
other violations of state law by the Board of Directors of Shengtai
in connection with the potential approval of this transaction, and
whether Shengtai’s Board of Directors is acting in the
shareholders’ best interests.”
The Briscoe Law Firm, PLLC is a full service business litigation
and shareholder rights advocacy firm with more than 20 years of
experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters, including
claims of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
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