Intersect ENT, Inc.

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Ademi LLP is investigating Intersect ENT (NASDAQ: XENT) for possible breaches of fiduciary duty and other violations of law in its transaction with Medtronic.

Ademi LLP alleges Intersect ENT’s financial outlook and prospects are excellent and yet Intersect ENT shareholders will receive only $28.25 per share in an all-cash transaction implying an enterprise value of approximately $1.1 billion. The merger agreement unreasonably limits competing bids for Intersect ENT by prohibiting solicitation of further bids, and imposing a substantial penalty if Intersect ENT accepts a superior bid. Intersect ENT insiders will receive millions of dollars as part of change of control arrangements. We are investigating the conduct of Intersect ENT’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 Intersect ENT.