An investigation on behalf of investors, who currently hold shares of Immune Design Corp. (NASDAQ: IMDZ), was announced concerning whether the takeover of Immune Design Corp. is unfair to NASDAQ: IMDZ stockholders.

The investigation by a law firm concerns whether certain officers and directors of Immune Design Corp. breached their fiduciary duties owed to NASDAQ: IMDZ investors in connection with the proposed acquisition.

Seattle, WA based Immune Design Corp., a clinical-stage immunotherapy company, engages in the research and development of in vivo treatments for cancer. On February 21, 2019, Merck (NYSE: MRK) and Immune Design (NASDAQ:IMDZ) announced that the companies have entered into an agreement under which Merck, through a subsidiary, will acquire Immune Design for $5.85 per share in cash for an approximate value of $300 million.

However, given that at least one analyst has set the high target price for NASDAQ: IMDZ shares at $6.00 per share and given that NASDAQ: IMDZ shares reached in July 2017 as high as $12.85 per share, the investigation concerns whether the offer is unfair to NASDAQ: IMDZ stockholders. More specifically, the investigation concerns whether the Immune Design Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Shares of Immune Design Corp. (NASDAQ: IMDZ) closed on March 6, 2019, at $5.83 per share.