CoLucid Pharmaceuticals, Inc. ("CoLucid") is a biopharmaceutical company developing an oral 5-HT1F agonist (lasmiditan) for the acute treatment of migraine.

According to the Complaint, On January 17, 2017, CoLucid’s Board of Directors (the “Board” or “Individual Defendants”) caused the Company to enter into an agreement and plan of merger (the “Merger Agreement”) with Eli Lilly. Pursuant to the terms of the Merger Agreement, shareholders of CoLucid will receive $46.50 in cash for each share of CoLucid common stock.

On January 31, 2017, Defendants filed a Solicitation/Recommendation Statement (the “Solicitation Statement”) with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Complaint alleges the Solicitation Statement omits material information with respect to the Proposed Transaction, which renders the Solicitation Statement false and misleading.

This case was voluntarily dismissed on March 3, 2017.