Bull & Lifshitz, LLP Announces Investigation of Adolor Corporation
05 Noviembre 2011 - 6:00AM
Business Wire
Bull & Lifshitz, LLP announces an investigation into
possible breaches of fiduciary duty in connection with the proposed
sale of Adolor Corporation (NASDAQ: ADLR) (referred to as "Adolor"
or the “Company”) to Cubist Pharmaceuticals, Inc. (“Cubist”) in a
transaction valued at up to $415 million, net of Adolor’s third
quarter 2011 cash balance.
Under the terms of the agreement, Cubist will commence a tender
offer to purchase all of the outstanding shares of Adolor for the
upfront cash payment and a Contingent Payment Right (“CPR”). Cubist
will acquire all of the outstanding shares of Adolor for $4.25 per
share in cash, or approximately $190 million on a fully-diluted
basis, net of Adolor’s third quarter 2011 cash balance. In addition
to the upfront cash payment, each Adolor stockholder will receive
one CPR, entitling the holder to receive additional cash payments
of up to $4.50 for each share they own if certain regulatory
approvals and/or commercialization milestones for ADL5945 are
achieved.
Bull & Lifshitz, LLP's investigation is focused on whether
the proposed deal provides adequate value to the Company’s
shareholders.
If you are a holder of Adolor Corporation common stock and want
to discuss your legal rights, you may e-mail or call Bull &
Lifshitz, LLP who will, without obligation or cost to you, attempt
to answer your questions.
If you are a shareholder of Adolor and would like more
information about our investigation, please contact Joshua M.
Lifshitz, Esq. by telephone at (866) 313-6222 or by sending an
e-mail including your contact information to:
counsel@nyclasslaw.com. All e-mail correspondence should make
reference to Adolor.
Bull & Lifshitz, LLP is a New York City-based law firm with
significant experience representing investors in merger-related
shareholder class actions, shareholder derivative actions, and
securities fraud class actions. For more information about the
firm, please visit our website at www.nyclasslaw.com.
ATTORNEY ADVERTISING. © 2011 Bull & Lifshitz, LLP.
The law firm responsible for this advertisement is Bull &
Lifshitz, LLP, 18 East 41st Street, New York, New York 10017, (212)
213-6222. Prior results do not guarantee or predict a similar
outcome with respect to any future matter.
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