iRobot Corporation

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

Ademi LLP alleges iRobot’s financial outlook and prospects are excellent and yet iRobot holders will receive only $61 per share in an all-cash transaction valued at approximately $1.7 billion, including iRobot’s net debt. The transaction agreement unreasonably limits competing bids for iRobot by imposing a significant penalty if iRobot accepts a superior bid. iRobot insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of iRobot’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 iRobot.