Kaleyra, Inc.

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Ademi LLP is investigating Kaleyra (NYSE: KLR) for possible breaches of fiduciary duty and other violations of law in its transaction with Tata Communications.

In the transaction, Kaleyra shareholders will receive only $7.25 for a total consideration to Kaleyra shareholders of approximately $100 million. The transaction agreement unreasonably limits competing bids for Kaleyra by imposing a significant penalty if Kaleyra accepts a superior bid. Kaleyra insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of Kaleyra’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 Kaleyra.