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Bull & Lifshitz, LLP announces an investigation into possible breaches of fiduciary duty in connection with the proposed acquisition of Clinical Data, Inc. (NASDAQ:
CLDA) (referred to as "Clinical Data" or the “Company”) by Forest Laboratories, Inc. (“Forest”) in a cash transaction valued at approximately $1.2 billion.
Under the terms of the agreement, Forest will commence a cash tender offer to purchase all of the outstanding shares of Clinical Data common stock for $30.00 per share in cash plus contingent consideration of up to $6.00 per share that may be paid upon achievement of certain commercial milestones related to Viibryd (vilazodone HCL tablets), a treatment for adults with major depressive disorder which was developed by Clinical Data and approved by the U.S. Food and Drug Administration on January 21, 2011.