Apria, Inc.

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Ademi LLP is investigating Apria (NASDAQ: APR) for possible breaches of fiduciary duty and other violations of law in its transaction with Owens & Minor.

Ademi LLP alleges Apria’s financial outlook and prospects are excellent and yet Apria shareholders will receive only $37.50 in cash per share of common stock, representing an equity value of approximately $1.45 billion. The merger agreement unreasonably limits competing bids for Apria by prohibiting solicitation of further bids, and imposing a significant penalty if Apria accepts a superior bid. Apria insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of Apria’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 Apria.