NEW YORK, June 2, 2009 (GLOBE NEWSWIRE) -- Levi & Korsinsky ("L&K") is investigating breaches of fiduciary duty and other violations of state law by the Board of Directors of CuraGen Corporation ("CuraGen" or the "Company") (Nasdaq:CRGN) arising out of their attempt to sell the Company to Celldex Therapeutics Inc. (Nasdaq:CLDX). Under the terms of the agreement, the transaction values CuraGen at approximately $94.5m, subject to certain adjustments. Given the number of outstanding shares of CuraGen stock, including exercised options, this values each share of CuraGen stock at approximately $1.55 per share. The price is unfair given that the Company currently has approximately $1.39 per share in cash and that at least one analyst has set a $3.00 price target on CuraGen shares. If you own common stock in CuraGen and wish to obtain additional information, please contact us at the number listed below or visit http://www.zlk.com/crgn1.html
L&K has experience in prosecuting investor securities litigation and an extensive practice in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.