MILWAUKEE, Nov. 8, 2021 /PRNewswire/ — Ademi LLP is investigating Metromile (NASDAQ: MILE) (NASDAQ: MILEW), for possible breaches of fiduciary duty and other violations of law in its transaction with Lemonade.
Click here to learn how to join the action: https://www.ademilaw.com/case/metromile-inc or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Ademi LLP alleges Metromile’s financial outlook and prospects are excellent and yet Metromile shareholders will receive only Lemonade common shares at a ratio of only 19:1. The merger agreement unreasonably limits competing bids for Metromile by prohibiting solicitation of further bids, and imposing a significant penalty if Metromile accepts a superior bid. Metromile insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Metromile’s board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Metromile.
If you own Metromile common stock and wish to obtain additional information, please contact Guri Ademi either at firstname.lastname@example.org or toll-free: 866-264-3995, or https://www.ademilaw.com/case/metromile-inc.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
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SOURCE Ademi LLP