Ademi LLP is investigating Everi (NYSE: EVRI) for possible breaches of fiduciary duty and other violations of law in its transaction with Apollo.
Everi stockholders will receive only $14.25 per share in cash. The transaction agreement unreasonably limits competing transactions for Everi by imposing a significant penalty if Everi accepts a competing bid. Everi insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Everi’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.