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The Briscoe Law Firm and Powers Taylor, LLP Announce Investigation of Adolor Corporation

^{Published on 2011-10-24 11:35:24 - Market Wire}
 

DALLAS--([ BUSINESS WIRE ])--Former United States Securities and Exchange Commission attorney [ Willie Briscoe ] and the securities litigation firm of [ Powers Taylor, LLP ] are investigating the sale of Adolor Corporation (aAdolora or aADLRa) (NASDAQ: ADLR) to Cubist Pharmaceuticals for ADLR shareholders. Under the proposed buyout, Adolor shareholders will receive only $4.25 in cash and one Contingent Payment Right of up to $4.50 in additional compensation for each share of Adolor/ADLR stock owned.

"Based on these and other factors, we believe that the transaction may undervalue Adolor stock"

If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at [ patrick@powerstaylor.com ], or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at [ WBriscoe@TheBriscoeLawFirm.com ]. There is no cost or fee to you.

The definitive acquisition agreement involves an all cash transaction valued at approximately $415 million, net of Adoloras third quarter cash balance. The transaction is expected to be completed in the fourth quarter of 2011.

aWe are investigating the fairness of the proposed transaction to Adolor shareholders, whether the shareholders are being underpaid for their stock, and whether Adoloras Board of Directors acted in the shareholdersa best interest,a said shareholder rights attorney Willie Briscoe. In particular, the amount of the Contingent Payment Right payment to ADLR shareholders is dependent upon certain regulatory approvals and acommercialization milestonesa being met for Adoloras late-stage compound ADL5945. However, at least one analyst has set a target price of $8.00 per share for ADLR stock. aBased on these and other factors, we believe that the transaction may undervalue Adolor stock,a said shareholder rights attorney Willie Briscoe.

[ The Briscoe Law Firm, PLLC ] is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

[ Powers Taylor, LLP ] is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.