Intricon Corporation

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

Ademi LLP alleges Intricon’s financial outlook and prospects are excellent and yet Intricon shareholders will receive only $24.25 per share in a transaction that values Intricon at an equity value of approximately $241 million. The merger agreement unreasonably limits competing bids for Intricon by prohibiting solicitation of further bids, and imposing a significant penalty if Intricon accepts a superior bid. Intricon insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of Intricon’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 Intricon.