Goldman Scarlato & Karon, P.C. (“GSK”) is investigating potential legal claims against the Board of Directors of Clinical Data, Inc. (“Clinical Data”) (NASDAQ: CLDA) relating to the proposed buyout of Clinical Data by Forest Laboratories, Inc. The definitive acquisition agreement, announced on February 22, 2011, involves an all-cash, going-private transaction valued at approximately $1.2 billion, or $30.00 per share. The acquisition price reflects an 11.5 percent discount to Clinical Data’s February 18, 2011 closing price of $33.90. The investigation relates to the fairness of the proposed transaction to Clinical Data shareholders, possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Clinical Data for approving this transaction, and whether Clinical Data’s Board of Directors acted in shareholders’ best interests. If you currently own shares of Clinical Data/CLDA and would like additional information regarding this investigation, or if you have information regarding the allegations involved in this transaction, please contact Mark S. Goldman, Esq. at (888) 668-4130 or by email at firstname.lastname@example.org. About Goldman Scarlato & Karon, P.C. GSK prosecutes securities fraud, consumer fraud, price-fixing, ERISA class actions, and shareholder-derivative actions throughout the United States. The Firm’s lawyers have recovered hundreds of millions of dollars on behalf of consumers, investors, and businesses. To learn more about GSK, you may visit www.gsk-law.com.
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.