We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Metromile, Inc. (“Metromile” or the “Company”) (NASDAQ:MILE), in connection with the proposed acquisition of the Company by Lemonade, Inc. (“Lemonade”) (NYSE: LMND). Under the terms of the merger agreement, the Company’s shareholders will receive Lemonade common shares at a ratio of 19:1, or one share of Lemonade for every nineteen shares of Metromile common stock that they hold. The transaction is valued at approximately $500 million.
WeissLaw LLP is investigating whether (i) Metromile’s board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the merger consideration is fair to Metromile’s shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.