Hi-Tech Pharmacal Announces Settlement Regarding Texas Pricing Investigation

Hi-Tech Pharmacal HITK today announced that the Texas Attorney General has agreed to close its investigation of Hi-Tech's pricing of products that were purchased with Texas Medicaid dollars. In settlement, Hi-Tech agreed to pay $25,000,000 to the State of Texas. This amount had previously been accrued in the Company's financial statements. The settlement does not constitute an admission, finding or evidence of any liability or wrongdoing by Hi-Tech. See full press release