QAD Inc.

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MILWAUKEE--(PR NEWSWIRE)--Ademi LLP is investigating QAD (Nasdaq: QADA) (Nasdaq: QADB) for possible breaches of fiduciary duty and other violations of law in its transaction with Thomas Bravo.

Ademi LLP alleges QAD’s financial outlook is excellent and yet QAD shareholders will receive only $87.50 per share of Class A Common Stock or Class B Common Stock in cash. The merger agreement unreasonably limits competing bids for QAD by prohibiting solicitation of further bids, and imposing a termination penalty if QAD accepts a superior bid. QAD insiders will receive millions of dollars as part of change of control arrangements. We are investigating the conduct of QAD’s board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for QAD.