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
, 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.