Law360, Wilmington (November 02, 2011, 3:42 PM ET) -- An Adolor Corp. investor launched a class action in Delaware on Wednesday seeking to block Cubist Pharmaceuticals Inc.’s $415 million bid for the drugmaker, saying the deal was opportunistic and would shortchange shareholders.
Adolor’s directors have breached their duty to shareholders by signing off on an inadequate offer just as the company’s marquee drug, Entereg, is gaining steam in the market and another potentially lucrative drug nears Federal Drug Administration approval, according to a complaint filed by Thomas Fellman in Delaware Chancery Court.
The deal is...
Adolor Investor Challenges Cubist's $415M Takeover Bid
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