Ademi LLP is investigating Doma (NYSE: DOMA) for possible breaches of fiduciary duty and other violations of law in its transaction with Title Resources Group.
In the transaction, Doma shareholders will receive only $6.29 per share of common stock in an all-cash transaction. LENX ST Investor, LLC and Len FW Investor, LLC, representing approximately 25% of the voting power of Doma’s common stock, have signed a voting agreement in support of the transaction, agreeing to vote their shares of Doma’s common stock in favor of the merger agreement and the transaction. The transaction agreement unreasonably limits competing transactions for Doma by imposing a significant penalty if Doma accepts a competing bid. Doma insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Doma’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.