South Jersey Industries, Inc.

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Ademi LLP is investigating SJI (NYSE: SJI) for possible breaches of fiduciary duty and other violations of law in its transaction with Infrastructure Investments Fund.

Ademi LLP alleges SJI’s financial outlook and prospects are excellent and yet SJI shareholders will receive only $36.00 per share in cash, reflecting an enterprise value of approximately $8.1 billion. The merger agreement unreasonably limits competing bids for SJI by prohibiting solicitation of further bids, and imposing a significant penalty if SJI accepts a superior bid. SJI insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of SJI’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 SJI.