NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C. is investigating potential claims on behalf of CoLucid Pharmaceuticals (NASDAQ:CLCD) stockholders concerning the proposed acquisition of the company by Eli Lilly and Company.
CoLucid Pharmaceuticals is a Phase 3 clinical-stage biopharmaceutical company that is developing an oral 5-HT1F agonist (lasmiditan) for the acute treatment of migraine.
The investigation concerns whether CoLucid’s board of directors failed to adequately shop the Company and obtain the best possible value for CoLucid stockholders before entering into a definitive merger agreement with Eli Lilly and Company. Under the terms of the agreement, CoLucid stockholders will receive $46.50 in cash for each share of CoLucid common stock they own in a transaction valued at approximately $960 million. Further, the $46.50 per share merger consideration is a significant discount to the target price of $52.00 set by analysts at BTIG Research as recently as January 18, 2017.
If you own CoLucid common stock, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact J. Brandon Walker, Esq. by email at email@example.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning our investigation into CoLucid, please go to www.bespc.com/colucid. For additional information, please go to www.bespc.com.