Amazon. Courtesy photo iRobot Board Accused of Underselling Company to Amazon for Personal Gain
"While they initially agreed to sell the company for $61 per share, less than a year later they hastily acceded to Amazon's demand to reduce the price to $51.75 per share, which represents a mere 2% premium to iRobot's hugely depressed trading price in August 2022, before Amazon's proposal," the complaint said.
September 08, 2023 at 04:17 PM
4 minute read
iRobot Corp., creator of the Roomba autonomous vacuum, and its board members were accused of selling the company to Amazon at a reduced share price to enrich themselves through their own Amazon stock.
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