MILWAUKEE, Nov. 2, 2019 /PRNewswire/ -- Ademi & O'Reilly, LLP is investigating Fitbit (FIT) for possible breaches of fiduciary duty and other violations of the law in connection with the sale of Fitbit to Google.
Click here to learn how to join the action: http://ademilaw.com/case/fitbit-inc or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Ademi & O'Reilly, LLP alleges Fitbit's financial outlook is improving and yet shareholders will receive only $7.35 per share in cash, valuing Fitbit at approximately $2.1 billion. The merger agreement unreasonably limits competing bids for Fitbit by prohibiting solicitation of further bids, and imposing a termination penalty if Fitbit accepts a superior bid. Fitbit insiders will receive millions of dollars as part of change of control arrangements. We are investigating the conduct of Fitbit'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 Fitbit.
If you own common stock in Fitbit and wish to obtain additional information, please contact Guri Ademi either at firstname.lastname@example.org or toll-free: 866-264-3995, or http://ademilaw.com/case/fitbit-inc.
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