Law Firm Brower Piven Announces Investigation of Adolor Corporation
24 Ottobre 2011 - 10:32PM
Business Wire
The law firm of Brower Piven, A Professional Corporation, has
commenced an investigation into possible breaches of fiduciary duty
to current shareholders of Adolor Corporation (“Adolor”) (NasdaqGM:
ADLR) and other violations of state law by the board of directors
of Adolor relating to the proposed acquisition of the company by
Cubist Pharmaceuticals, Inc. (“Cubist Pharmaceuticals”). The firm’s
investigation seeks to determine, among other things, whether the
board breached their fiduciary duties by failing to maximize
shareholder value.
On October 24, 2011, Cubist Pharmaceuticals announced that it
had entered into a definitive agreement to acquire Adolor for $4.25
per share in cash plus one contingent payment right of up to $4.50
per share of Adolor common stock upon the achievement of certain
conditions. According to Yahoo! Finance, at least one analyst has
set a high price target of $8.00 per share.
If you currently own shares of Adolor and would like to learn
more about the investigation being conducted by Brower Piven, you
may email or call Brower Piven, who will, without obligation or
cost to you, attempt to answer your questions. You may contact
Brower Piven by email at hoffman@browerpiven.com, by calling
410/415-6616, or at Brower Piven, A Professional Corporation, 1925
Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower
Piven have combined experience litigating securities and other
class action cases of over 60 years.
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