SAN DIEGO, Feb. 21, 2019 /PRNewswire/ -- Shareholder
rights law firm Johnson Fistel, LLP has launched an investigation
into whether the board members of Immune Design Corp. (NASDAQ:
IMDZ) ("Immune Design") breached their fiduciary duties in
connection with the proposed sale of the Company to Merck &
Co., Inc. (NYSE: MRK) ("Merck").
On February 21, 2019, Immune
Design announced that it had signed a definitive merger agreement
with Merck. Under the terms of the acquisition agreement Immune
Design shareholders will receive $5.85 per share in cash.
The investigation concerns whether the Immune Design board
failed to satisfy its duties to the Company shareholders, including
whether the board adequately pursued alternatives to the
acquisition and whether the board obtained the best price possible
for Immune Design shares of common stock. Nationally recognized
Johnson Fistel is investigating
whether the proposed deal represents adequate consideration,
especially given that one Wall Street analyst has a $9.00 price target on the stock and the Company
has approximately $100 million in
cash and no long-term debt.
If you are a shareholder of Immune Design and believe
the proposed buyout price is too low or you're interested in
learning more about the investigation or your legal rights and
remedies, please contact lead analyst Jim
Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing,
please include a phone number.
Additionally, you can [Click here to join this action].
There is no cost or obligation to you.
About Johnson Fistel,
LLP:
Johnson Fistel, LLP is a nationally
recognized shareholder rights law firm with offices in California, New
York, and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
https://www.johnsonfistel.com. Attorney advertising. Past results
do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP