SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Metromile (Nasdaq – MILE)

BALA CYNWYD – November 9, 2021 /Access Wire/ – Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Metromile (“Metromile” or the “Company”) (Nasdaq – MILE) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the agreement to be acquired by Lemonade (NYSE – LMND). Under the terms of the merger agreement, Lemonade will acquire all outstanding shares of Metromile common stock in an all-stock transaction that implies a fully diluted equity value of approximately $500 million, or just over $200 million net of cash. Under the terms of the transaction, Metromile shareholders will receive Lemonade common shares at a ratio of 19:1.

The investigation concerns whether the Metromile Board breached its fiduciary duties to shareholders by failing to conduct a fair process, and whether Lemonade is paying too little for the Company.

If you own shares of Metromile stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman, Esquire at Brodsky & Smith, Two Bala Plaza, Suite 805, Bala Cynwyd, PA 19004, or call toll free 855-576-4847.

Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.