Law Offices of Howard G. Smith Announces Investigation of Adolor Corporation

BENSALEM, Pa.--(BUSINESS WIRE)--

Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of Adolor Corporation (“Adolor” or the “Company”) ADLR, related to the Company's agreement to be acquired by Cubist Pharmaceuticals, Inc. (“Cubist”). The proposed transaction is valued at approximately $415 million.

Under the terms of the definitive agreement entered into by the parties, Cubist will acquire all of the outstanding shares of Adolor for $4.25 per share in cash, and each Adolor stockholder will receive one Contingent Payment Right, entitling the holder to receive additional cash payments of up to $4.50 for each share they own if certain regulatory approvals or commercialization milestones are achieved for Adolor's lead development program. The transaction is expected to close in the fourth quarter of 2011. The investigation concerns whether the board of directors of Adolor breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the proposed transaction, and whether the Company has disclosed all material information to shareholders about the transaction.

If you are a shareholder of Adolor, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.