Ademi LLP is investigating Radius (NASDAQ: RADI) for possible breaches of fiduciary duty and other violations of law in its transaction with EQT and PSP.
Ademi LLP alleges Radius’ financial outlook and prospects are excellent and yet Radius shareholders are expected to receive only $15.00 per share, representing a total enterprise value of approximately $3 billion. The transaction agreement unreasonably limits competing bids for Radius by imposing a significant penalty if Radius accepts a superior bid. Radius insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Radius’ board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Radius.