Sumo Logic Inc.

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Ademi LLP is investigating Sumo Logic (NASDAQ: NUVA) for possible breaches of fiduciary duty and other violations of law in its transaction with Francisco Partners.

Ademi LLP alleges Sumo Logic’s financial outlook and prospects are excellent and yet Sumo Logic shareholders will receive only $12.05 per share, or an aggregate equity valuation of approximately $1.7 billion. The transaction agreement unreasonably limits competing bids for Sumo Logic by imposing a significant penalty if Sumo Logic accepts a superior bid. Sumo Logic insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of Sumo Logic’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 Sumo Logic.