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Rosen Law Firm Announces Investigation of ShangPharma Corporation in Connection with Going Private Transaction – SHP

2013-02-01 21:26 ET - News Release


Company Website: http://rosenlegal.com
NEW YORK -- (Business Wire)

The Rosen Law Firm announces that it is investigating potential securities fraud claims against ShangPharma Corporation (NYSE: SHP) pertaining to allegations that ShangPharma issued a misleading and inadequate proxy statement for its going private transaction.

If you would like to join the action please email or call Phillip Kim or Kevin Chan, toll-free, at 866-767-3653; or email at pkim@rosenlegal.com or kchan@rosenlegal.com. There is no cost or obligation to you.

Under the terms of the transaction, proposed by ShangPharma’s Chairman and Chief Executive Officer, Mr. Michael Xin Hui, and Chinese private equity firm TPG Star Charisma limited, shareholders will receive $9.00 for each American Depository Share (“ADS”) or $0.50 for each common share of ShangPharma they own. The investigation relates to whether ShangPharma’s Board violated Section 14 of the Securities Exchange Act of 1934 in issuing its proxy statement on January 31, 2013 for approval of the going private proposal.

If you own ShangPharma ADS and wish to obtain additional information, you may contact Phillip Kim or Kevin Chan of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.

The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contacts:

Phillip Kim, Esq.
Laurence Rosen, Esq.
The Rosen Law Firm P.A.
275 Madison Avenue 34th Floor
New York, New York 10016
Tel: (212) 686-1060
Weekends Tel: (917) 562-8616
Toll Free: 1-866-767-3653
Fax: (212) 202-3827
pkim@rosenlegal.com
lrosen@rosenlegal.com
www.rosenlegal.com

Source: The Rosen Law Firm P.A.

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