Ademi LLP Investigates Whether Iteris Inc Has Obtained a Fair Price for its Public

Subheading: PRNewswire - Ademi LLP is investigating Iteris Inc Has obtained a Fair Price for its Public

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Ademi LLP is investigating Iteris (NASDAQ: ITI) for potential breaches of fiduciary duties by its board of directors. The investigation concerns whether the board breached its duties by approving a transaction that is not in the best interests of shareholders.

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On August 9, 2024, Iteris announced that it had entered into a definitive agreement to be acquired by Cubic Corporation (NYSE: CUB). Under the terms of the agreement, Cubic will acquire all of the outstanding shares of Iteris for $9.35 per share in cash. The transaction is expected to close in the fourth quarter of 2024.

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Ademi LLP is investigating whether the Iteris board breached its fiduciary duties by approving the transaction. The investigation will focus on whether the board adequately considered all of the available options and whether the transaction is fair to shareholders.

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If you are an Iteris shareholder, you may have legal claims against the company's directors and officers. Ademi LLP is offering free consultations to shareholders who wish to discuss their legal rights.