NEW YORK, Nov. 7, 2022 /PRNewswire/ --
Weiss Law is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Velodyne Lidar, Inc. ("Velodyne" or the "Company") (NASDAQ: VLDR), in connection with the proposed merger of the Company with Ouster, Inc. ("Ouster") (NYSE: OUST). Under the terms of the merger agreement, the Company's shareholders will receive 0.8204 shares of Ouster common stock for each Velodyne share owned, representing implied per-share merger consideration of approximately $0.99 based upon Ouster's November 7, 2022 closing price of $1.21. Upon completion of the transaction, Velodyne and Ouster shareholders will each own approximately 50% of the combined company.
If you own Velodyne shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
https://www.weisslaw.co/news-and-cases/vldr
Or please contact:
Joshua Rubin, Esq.
Weiss Law
305 Broadway, 7th Floor
New York, NY 10007
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
Weiss Law is investigating whether (i) Velodyne's board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the per-share merger consideration adequately compensates Velodyne's shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.
Weiss Law 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 Weiss Law
