Shengtai Pharmaceutical, Inc. Going Private Proposal Investigated by the Securities Attorneys at The Briscoe Law Firm and Powers Taylor, LLP
4/17/2012 10:37:22 AM
DALLAS--(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.
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