Clinical Data (CLDA)

[N_B]

Harwood Feffer LLP Announces Investigation of Clinical Data, Inc.

NEW YORK, Feb 22, 2011 (BUSINESS WIRE) -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of Clinical Data, Inc. (NASDAQ - CLDA | PowerRating) concerning possible breaches of fiduciary duty and other violations of law related to the Company's efforts to sell CLDA to Forest Laboratories Inc. (NYSE -- FRX | PowerRating) in a transaction valued at approximately $1 billion.
Under the terms of the definitive agreement, CLDA shareholders will receive $30.00 per share and a possible additional payment of $6.00 per share of CLDA's newly approved drug Viibryd meets certain sales goals. Even with the additional $6.00 payment, the price to be paid by FRX is significantly less than analyst estimates for CLDA, one of which has been targeted at $49.00 per share. Our investigation concerns possible breaches of fiduciary duty and other violations of law related to the approval of the transaction by the Company's board of directors; in particular, whether the Company undertook a fair process to obtain fair consideration for all shareholders of CLDA.
If you own shares of CLDA and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Matthew Houston toll free at [phone] or to sign up online, visit www.hfesq.com. You may also email Mr. Houston at [e-mail]. For more information about class action cases in general, please visit our website: www.hfesq.com.
Harwood Feffer LLP is a national shareholder litigation firm. Harwood Feffer LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.
Attorney Advertising. (C) 2011 Harwood Feffer LLP. The law firm responsible for this advertisement is Harwood Feffer LLP (www.hfesq.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter.
SOURCE: Harwood Feffer LLP

Harwood Feffer LLP

Matthew Houston, 877-935-7400

[e-mail]

[e-mail]

www.hfesq.com

For full details on Forest Laboratories Inc (FRX) FRX. Forest Laboratories Inc (FRX) has Short Term PowerRatings at TradingMarkets. Details on Forest Laboratories Inc (FRX) Short Term PowerRatings is available at This Link.
For full details on Clinical Data Inc (CLDA) CLDA. Clinical Data Inc (CLDA) has Short Term PowerRatings at TradingMarkets. Details on Clinical Data Inc (CLDA) Short Term PowerRatings is available at This Link.


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