Faruqi & Faruqi, LLP Announces Investigation of Adolor Corp. (ADLR)
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Adolor Corp. (“Adolor” or the “Company”) (NASDAQ: ADLR) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Cubist Pharmaceuticals, Inc. (NASDAQ: CBST) in an all-cash deal valued at about $190 million. Under the terms of the proposed transaction, Adolor stockholders will receive $4.25 in cash for each share of Adolor common stock they own. In addition to the upfront cash payment, each Adolor stockholder will receive an additional contingent payment of up to $4.50 a share, but only if certain regulatory approvals and future performance are met. According to Yahoo! Finance, at least one financial analyst has set a price target of $8.00 for Adolor. The proposed transaction is structured as a tender offer and may be effectuated without a shareholder vote.
Whether Adolor’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether the proposed transaction undervalues Adolor’s shares and by how much this proposed transaction undervalues the Company to the detriment of Adolor’s shareholders are the key focus of this investigation.
If you own common stock in Adolor and wish to obtain additional information, please contact Juan E. Monteverde, Esq. either via e-mail at email@example.com or by telephone at (877) 247-4292 or (212) 983-9330.
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Faruqi & Faruqi, LLP
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