Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Clinical Data, Inc. (“Clinical Data” or the “Company”) (NasdaqGM: CLDA) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Forest Laboratories, Inc. (NYSE: FRX) for at least $1.2 billion in a tender offer. The proposed transaction offers Clinical Data shareholders $30 per share in cash and a contingent consideration of up to $6 per share if the Company’s newly approved antidepressant Viibryd helps offset the loss of major products in coming years. The deal is structured as a tender offer, which may avoid the need for a shareholder vote, and is expected to close in the second quarter of 2011. Request more information now by clicking here: www.faruqilaw.com/CLDA. Whether the Clinical Data’s Board of Directors breached their fiduciary duties to Clinical Data’s stockholders by failing to conduct an adequate and fair sales process to sell the Company prior to agreeing to this proposed transaction, whether the proposed transaction undervalues Clinical Data’s shares and by how much this proposed transaction undervalues the Company to the detriment of Clinical Data shareholders are the key focus of this investigation. Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, through all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm’s clients. If you own common stock in Clinical Data and wish to obtain additional information, please visit us at www.faruqilaw.com/CLDA or contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330. Attorney Advertising. (C) 2011 Faruqi & Faruqi, LLP. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We are happy to discuss your particular case.
Cheng Yi Liang, a chemist with the U.S. Food and Drug Administration, was charged by the Securities and Exchange Commission with insider trading on information regarding upcoming FDA drug approval decisions on Tuesday.