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You must submit the settlement Proof form attached below, in order to participate in this settlement. There is a strict deadline of June 5, 2013 by which all claims must be submitted. The instructions for submitting are included in the Proof and the Notice files attached below for your download. DO NOT SEND THE FORMS TO THE SHAREHOLDERS FOUNDATION, INC.
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Lawsuit Overview
Settlement Overview
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March 14, 2013 - Settlement proposed.
March 2012 - Motion to dismiss denied.
July 22, 2010 - An investor in NTY stock filed a lawsuit in New York State Court on behalf of current investors NBTY, Inc. (NYSE:NTY) alleging breaches of fiduciary duty by certain members of the NBTY board of directors for selling NBTY too cheaply to The Carlyle Group. According to the complaint the plaintiff alleges that the defendants breached their fiduciary duty owed to the NBTY shareholders by their attempt to sell NBTY Inc to The Carlyle Group at an inadequate and unfair price following a grossly unfair process.
On Thursday, July 15, 2010, NBTY, Inc. (NYSE: NTY) announced the execution of a merger agreement under which The Carlyle Group will acquire NBTY in a transaction valued at $3.8 billion. Under the terms of the merger agreement, Carlyle Group will acquire all of the outstanding common shares of NBTY for $55.00 per share in cash.
According to NBTY, Inc its board of directors of NBTY has unanimously approved the merger agreement and the offer represents a premium of approximately 57% over NBTY's average closing share price during the 30 trading days ended July 14, 2010. The plaintiff alleges that the $55 per share price significantly undervalues NBTY. Shares of NBTY, Inc. (NTY) traded before the news at $37.80 per share and jumped to its 52weekHigh of $54.08 per share after the announcement. But the plaintiff claims that the $55 price by The Carlyle Group offers “no premium at all when compared to the Company’s worth during prosperous economic times”, when “NBTY’s stock price was at approximately $53.00 per share” in 2007. NBTY, Inc. was able to increase its Total Revenue of the last three years. NBTY Inc reported in 2007 Total Revenue of $2.01451billion, in 2008 $2.17947billion, and in 2009 $2.58195billion.