NEW YORK, May 9, 2011 (GLOBE NEWSWIRE) -- Levi & Korsinsky is investigating the Board of Directors of Kendle International, Inc. ("Kendle" or the "Company") for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to INC Research, LLC. Under the terms of the transaction, Kendle shareholders will receive $15.25 per share of Kendle stock they own for a total transaction value of approximately $232 million.
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The investigation concerns whether the Kendle Board of Directors breached their fiduciary duties to Kendle stockholders by failing to adequately shop the Company before entering into this transaction and whether INC Research, LLC is underpaying for Kendle shares, thus unlawfully harming Kendle stockholders. In particular, Kendle reported a book value of $15.46 per share for the most recent quarter and at least one analyst set a price target for Kendle stock at $18.00 per share.
If you own common stock in Kendle and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit .
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. 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 litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 15th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com
