METROMILE MERGER INVESTIGATION: HALPER SADEH LLP ANNOUNCES INVESTIGATION INTO WHETHER THE SALE OF METROMILE, INC. IS FAIR TO SHAREHOLDERS; INVESTORS ARE ENCOURAGED TO CONTACT THE FIRM – MILE
Halper Sadeh LLP, a global investor rights law firm, is investigating whether the sale of Metromile, Inc. (NASDAQ: MILE) to Lemonade, Inc. is fair to Metromile shareholders. Under the terms of the transaction, Metromile shareholders will receive Lemonade common shares at a ratio of 19:1.
The investigation concerns whether Metromile and its board of directors violated the federal securities laws and/or breached their fiduciary duties to shareholders by failing to, among other things: (1) obtain the best possible consideration for Metromile shareholders; (2) determine whether Lemonade is underpaying for Metromile; and (3) disclose all material information necessary for Metromile shareholders to adequately assess and value the merger consideration. On behalf of Metromile shareholders, Halper Sadeh LLP may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits.