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. (IMDZ) ("Immune Design") breached their fiduciary duties in connection with the proposed sale of the Company to Merck & Co., Inc. (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 (email@example.com) at 619-814-4471. If emailing, please include a phone number.
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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.
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