SHAREHOLDER ALERT: Brodsky & Smith, LLC Announces Investigation of Overland Storage, Inc. In Connection With the Sale of the ...
May 20 2014 - 8:35PM
Business Wire
Law office of Brodsky & Smith, LLC announces that it is
investigating potential claims against the Board of Directors of
Overland Storage, Inc. (“Overland Storage” or the “Company”)
(Nasdaq: OVRL) relating to the proposed acquisition by Sphere 3D
Corporation (“Sphere 3D”).
Click here to learn more about the investigation
http://brodsky-smith.com/760-ovrl-overland-storage-inc.html, or
call: 877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction, Overland will receive only
0.510594 shares of Sphere 3D stock for each share of Overland
Storage stock they own. The transaction values Overland Storage at
approximately $4.43 per share. The investigation concerns possible
breaches of fiduciary duty and other violations of state law by the
Board of Directors of Overland Storage for not acting in the
Company’s shareholders' best interests in connection with the sale
process.
The transaction may undervalue Overland Storage and will result
in a loss for many long term holders of Overland Storage stock.
Overland Storage stock traded at $5.54 per share as recently as
February 12, 2014 and traded at $11.40 per share on July 27, 2012.
In addition, an analyst has set a $15.00 per share price target for
Overland Storage.
If you own shares of Overland Storage common stock and wish to
discuss the legal ramifications of the investigation, or have any
questions, you may e-mail or call the law office of Brodsky &
Smith, LLC who will, without obligation or cost to you, attempt to
answer your questions. You may contact Jason L. Brodsky, Esquire or
Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza,
Suite 602, Bala Cynwyd, PA 19004, by e-mail at
investorrelations@brodsky-smith.com, by visiting
http://brodsky-smith.com/760-ovrl-overland-storage-inc.html, or
calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive
expertise representing shareholders throughout the nation in
securities and case action lawsuits. The attorneys at Brodsky &
Smith have been appointed by numerous courts throughout the country
to serve as lead counsel in class actions and successfully
recovered millions of dollars for our clients and shareholders.
Attorney advertising. Prior results do not guarantee a similar
outcome.
Brodsky & Smith, LLCJason L. Brodsky, EsquireEvan J. Smith,
Esquire877-LEGAL-90investorrelations@brodsky-smith.comhttp://brodsky-smith.com/760-ovrl-overland-storage-inc.html
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