TravelCenters of America Inc.

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Ademi LLP is investigating TravelCenters (NASDAQ: TA) for possible breaches of fiduciary duty and other violations of law in its transaction with BP.

Ademi LLP alleges TravelCenters’ financial outlook and prospects are excellent and yet TravelCenters shareholders will receive only $86 per share, or an aggregate equity valuation of approximately $1.3 billion. The transaction agreement unreasonably limits competing bids for TravelCenters by imposing a significant penalty if TravelCenters accepts a superior bid. TravelCenters insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of TravelCenters’ board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for TravelCenters.