Ademi LLP is investigating MobileIron (Nasdaq: MOBL) for possible breaches of fiduciary duty and other violations of the law in connection with the sale to Ivanti.
Ademi LLP alleges MobileIron’s financial outlook is improving and yet shareholders will receive only $7.05 in cash per share. The merger agreement unreasonably limits competing bids for MobileIron by prohibiting solicitation of further bids, and imposing a termination penalty if MobileIron accepts a superior bid. MobileIron insiders will receive millions of dollars as part of change of control arrangements. We are investigating the conduct of MobileIron’s board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for MobileIron.