Boingo Wireless, Inc.

Stock Symbol: 
WIFI
Case Status: 
Investigations

Ademi LLP is investigating Boingo (NASDAQ: WIFI) for possible breaches of fiduciary duty and other violations of law in its transaction with Digital Colony.

Ademi LLP alleges Boingo’s financial outlook is excellent and yet Boingo shareholders will receive only $14 for each share of Boingo.  The merger agreement unreasonably limits competing bids for Boingo by prohibiting solicitation of further bids, and imposing a termination penalty if Boingo accepts a superior bid. Boingo insiders will receive millions of dollars as part of change of control arrangements. We are investigating the conduct of Boingo’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 Boingo.