NEW YORK, Feb. 14, 2020 /PRNewswire/ -- WeissLaw
LLP is investigating possible breaches of fiduciary duty and
other violations of law by the Board of Directors of Qumu
Corporation ("QUMU" or the "Company") (NASDAQ: QUMU) in connection
with the proposed acquisition of the Company by Synacor, Inc.
("SYNC") (NASDAQ: SYNC). Under the terms of the acquisition
agreement, shareholders will receive 1.61 shares of SYNC common
stock for each share of QUMU they own. This represents an
implied per-share consideration of $2.25 based on SYNC's closing price on the day of
the announcement of the proposed acquisition.
If you own QUMU shares and wish to discuss
this investigation or have any questions concerning this notice or
your rights or interests, visit our website:
http://www.weisslawllp.com/qumu-corporation/
Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
WeissLaw is investigating whether QUMU's Board acted to maximize
shareholder value prior to entering into the acquisition agreement,
and whether QUMU's shareholders have enough information to cast a
fully informed vote on the proposed acquisition. Notably, at
least one analyst recently set a price target of $6.00 per QUMU share, or $3.75 above the per-share merger
consideration. Additionally, QUMU shares traded for
$4.60, or $2.35 above the implied per-share value of the
merger consideration, as recently as July
2019.
Given these facts, WeissLaw is concerned whether the proposed
acquisition undervalues the Company, and whether all material
information related to the proposed acquisition is fully and fairly
disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com
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SOURCE WeissLaw LLP