NEW YORK, Oct. 24, 2011 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of Adolor Corp. ("Adolor" or the "Company") (NASDAQ: ADLR) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Cubist Pharmaceuticals Inc. (NASDAQ: CBST). Under the terms of the transaction, Adolor shareholders will receive $4.25 and one Contingent Payment Right (CPR) per share of Adolor stock they own. The CPR entitles each holder to additional cash payment of up to $4.50 per share if certain regulatory approvals are met. The acquisition is valued at as much as $415 million, net of Adolor's third-quarter cash balance.
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The investigation concerns whether the Adolor Board of Directors breached their fiduciary duties to Adolor stockholders by failing to adequately shop the Company before entering into this transaction and whether Cubist Pharmaceuticals, Inc. is underpaying for Adolor shares, thus unlawfully harming Adolor stockholders.
If you own common stock in Adolor and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or http://www.zlk.com/adolor-adlr.html.Levi & Korsinsky is a national firm with offices in New York, California and Washington D.C. The firm has extensive expertise in prosecuting investor securities litigation involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes. CONTACT:Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq.30 Broad Street - 15th Floor New York, NY 10004Tel: (212) 363-7500Toll Free: (877) 363-5972Fax: (212) 363-7171 www.zlk.com SOURCE Levi & Korsinsky, LLP