Law Offices of Howard G. Smith Announces Investigation of Adolor Corporation
26 Ottobre 2011 - 3:00AM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims against the board of directors of
Adolor Corporation (“Adolor” or the “Company”) (NASDAQ:ADLR),
related to the Company’s agreement to be acquired by Cubist
Pharmaceuticals, Inc. (“Cubist”). The proposed transaction is
valued at approximately $415 million.
Under the terms of the definitive agreement entered into by the
parties, Cubist will acquire all of the outstanding shares of
Adolor for $4.25 per share in cash, and each Adolor stockholder
will receive one Contingent Payment Right, entitling the holder to
receive additional cash payments of up to $4.50 for each share they
own if certain regulatory approvals or commercialization milestones
are achieved for Adolor’s lead development program. The transaction
is expected to close in the fourth quarter of 2011. The
investigation concerns whether the board of directors of Adolor
breached their fiduciary duties to stockholders by failing to
adequately shop the Company before agreeing to enter into the
proposed transaction, and whether the Company has disclosed all
material information to shareholders about the transaction.
If you are a shareholder of Adolor, if you have information or
would like to learn more about these claims, or if you wish to
discuss these matters or have any questions concerning this
announcement or your rights or interests with respect to these
matters, please contact Howard G. Smith, Esquire, of Law Offices of
Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem,
Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at
(888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or
visit our website at http://www.howardsmithlaw.com.
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