Infrastructure & Energy Alternatives, Inc.

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Ademi LLP is investigating IEA (NASDAQ: IEA) for possible breaches of fiduciary duty and other violations of law in its transaction with MasTec.

Ademi LLP alleges IEA’s financial outlook and prospects are excellent and yet IEA holders will receive only $14.00 per share, comprised of $10.50 per share in cash and 0.0483 of a MasTec share, with a value of $3.50 per share, based on MasTec's closing share price on July 22, 2022. The transaction agreement unreasonably limits competing bids for IEA by imposing a significant penalty if IEA accepts a superior bid. IEA insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of IEA’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 IEA.