Avalara, Inc.

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Ademi LLP is investigating Avalara (NYSE: AVLR) for possible breaches of fiduciary duty and other violations of law in its transaction with Vista.

Ademi LLP alleges Avalara’s financial outlook and prospects are excellent and yet Avalara holders will receive only $93.50 per share in an all-cash transaction valued at $8.4 billion, inclusive of Avalara’s net debt. The transaction agreement unreasonably limits competing bids for Avalara by imposing a significant penalty if Avalara accepts a superior bid. Avalara insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of Avalara’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 Avalara.