An investigation on behalf of investors of CoLucid Pharmaceuticals Inc (NASDAQ:CLCD) in connection with the proposed takeover was announced and NASDAQ:CLCD stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 01/24/2017 -- The acquisition of CoLucid Pharmaceuticals Inc is under investigation over potential wrongdoing. The investigation was announced for investors, who currently hold NASDAQ:CLCD shares, concerning whether the takeover of CoLucid Pharmaceuticals Inc by Eli Lilly and Company for $46.50 per share is unfair.
Investors who purchased shares of CoLucid Pharmaceuticals Inc (NASDAQ:CLCD) and currently hold any of those NASDAQ:CLCD shares have certain options and should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
The investigation by a law firm concerns whether certain CoLucid Pharmaceuticals directors breached their fiduciary duties owed to NASDAQ:CLCD investors in connection with the proposed acquisition.
On January 18, 2017, Eli Lilly and Company (NYSE:LLY) and CoLucid Pharmaceuticals Inc (NASDAQ:CLCD) announced an agreement for Eli Lilly and Company to acquire CoLucid for $46.50 per share or approximately $960 million.
However, given that at least one analyst has set the high target price for NASDAQ:CLCD shares at $52.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:CLCD stockholders. More specifically, the investigation concerns whether the CoLucid Pharmaceuticals Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
On January 23, 2017, CoLucid Pharmaceuticals Inc (NASDAQ:CLCD) shares closed at $46.25 per share.
Those who are current investors in CoLucid Pharmaceuticals Inc shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego