Metromile, a digital car insurance provider that employs AI to automate claims, and its board of directors were slapped with a shareholder lawsuit Thursday in Pennsylvania Eastern District Court over the company’s planned acquisition by insurtech giant Lemonade. The suit, filed by the Grabar Law Office on behalf of Mark Blake, accuses Metromile of overstating financial reports and making false statements regarding the sales process leading up to the proposed transaction. Counsel have not yet appeared for the defendants. The case is 2:22-cv-00165, Blake v. Metromile, Inc. et al.
This suit was surfaced by Law.com Radar, a source for high-speed legal news and litigation updates personalized to your practice. Law.com Radar publishes daily updates on just-filed federal cases like this one. Click here to get started and be first to know about new suits in your region, practice area or client sector. Read the complaint here: