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Velodyne Lidar, Inc. Investigation

We are 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.

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.