Qumu Corporation

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Ademi LLP is investigating Qumu (Nasdaq:QUMU) for possible breaches of fiduciary duty and other violations of law in its transaction with Enghouse.

Ademi LLP alleges Qumu’s financial outlook and prospects are excellent and yet Qumu shareholders will receive only $0.90 per share in cash, for a total equity value of approximately $18.0 million. The transaction agreement unreasonably limits competing bids for Qumu by imposing a significant penalty if Qumu accepts a superior bid. Qumu insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of Qumu’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 Qumu.