We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Kimball International, Inc. (“Kimball” or the “Company”) (NASDAQ: KBAL), in connection with the proposed acquisition of the Company by HNI Corporation (NYSE: HNI) (“HNI”).  Under the terms of the merger agreement, the Company’s shareholders will receive $9.00 in cash and 0.1301 shares of HNI common stock for each share of Kimball common stock owned, representing implied per-share consideration of $12.90 based upon HNI’s March 7, 2023 closing price of $29.94.  Upon completion of the transaction, HNI shareholders will own 90% of the combined company, while Kimball shareholders will only own 10% of the combined company.  The transaction is valued at approximately $485 million.

Weiss Law is investigating whether (i) Kimball’s board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the per share merger consideration adequately compensates Kimball’s shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.