NEW YORK, Jan. 18, 2017 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of CoLucid Pharmaceuticals, Inc. ("CoLucid" or the "Company") (NASDAQ: CLCD) concerning the proposed acquisition of the Company by Eli Lilly and Company ("Eli Lilly").
Under the terms of the offer, Eli Lilly would acquire CoLucid in a transaction valued at approximately $960 million. Pursuant to the terms of the transaction, CoLucid shareholders would receive $46.50 in cash per share owned. One Wall Street analyst set a price target for CoLucid shares of $58 per share.
Our investigation concerns whether the CoLucid board of directors is fulfilling its fiduciary duties, maximizing the value of the Company, disclosing all material benefits and costs, and obtaining full and fair consideration for Company stockholders.
If you own CoLucid shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Robert I. Harwood, Esq.
Benjamin I. Sachs-Michaels, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
Follow us on Twitter: @HarwoodFeffer
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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SOURCE Harwood Feffer LLP