Clinical Data (CLDA)

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The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into Possible Breaches of Fiduciary Duty by the Board of Cli

NEW YORK, Feb 22, 2011 (BUSINESS WIRE) -- Levi & Korsinsky is investigating the Board of Directors of Clinical Data, Inc. ("Clinical Data" or the "Company") (Nasdaq: CLDA | PowerRating) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Forest Laboratories, Inc. ("Forest") (NYSE: FRX | PowerRating). Under the terms of the transaction, Clinical Data shareholders will receive $30.00 per share in cash, with a consideration of up to $6.00 contingent upon commercial milestones related to the drug Viibryd. The companies said the deal is valued at $1.2 billion net of an undisclosed amount of cash acquired.
Click here to learn more about the investigation: http://www.zlk.com/clinical-data-clda.html, or call: 877-363-5972.
The investigation concerns whether the Clinical Data Board of Directors breached their fiduciary duties to Clinical Data stockholders by failing to adequately shop the Company before entering into this transaction and whether Forest is underpaying for Clinical Data shares, thus unlawfully harming Clinical Data stockholders. In particular, at least one analyst set a price target of $46 per share of Clinical Data stock.
If you own common stock in Clinical Data and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at [e-mail] or by telephone at [phone], toll-free: [phone], or visit http://www.zlk.com/clinical-data-clda.html.
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
SOURCE: Levi & Korsinsky, LLP

Levi & Korsinsky, LLP

Joseph Levi, Esq.

Eduard Korsinsky, Esq.

Tel: [phone]

Toll Free: 877-363-5972

Fax: [phone]

www.zlk.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.

http://www.tradingmarkets.com/news/press-release/clda_frx_the-law-firm-of-levi-amp-korsinsky-llp-launches-an-investigation-into-possible-breaches-of-fiduci-1508021.html