Proposed $146M Sale Of Infant Formula Co. Draws Class Action

Law360, Los Angeles (November 15, 2012, 8:00 PM EST) -- An investor in Chinese infant formula company Feihe International Inc. filed a putative class action Wednesday alleging a $146 million buyout deal proposed by the company's chairman and a private equity firm has been underpriced to benefit insiders.

Feihe, one of the first Chinese companies to go public in the U.S. via a reverse merger, announced last month that its chairman, You-Bin Leng, and Morgan Stanley Private Equity Asia, or MSPEA, were teaming up to take Feihe private at $7.40 a share — a premium of...
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