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Compellent Technologies, Inc. Shareholder Investigation by Briscoe Law Firm Concerning the Acquisition by Dell Inc.

  //science-technology.news-articles.net/content/2 .. firm-concerning-the-acquisition-by-dell-inc.html
  Published in Science and Technology on Monday, December 13th 2010 at 10:25 GMT by Market Wire
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DALLAS--([ BUSINESS WIRE ])--[ The Briscoe Law Firm, PLLC ], founded by a former state prosecutor and enforcement attorney for the United States Securities and Exchange Commission, and the law firm of Powers Taylor, LLP are investigating potential legal claims against the Board of Directors of [ Compellent Technologies, Inc ]. (aCompellent Techa or aCMLa) (NYSE: CML) related to the proposed acquisition of Compellent Tech by Dell Inc. (NASDAQ: DELL). The investigation relates to the potential unfairness of the proposed transaction, due in large part to the fact that Compellent Tech shareholders will receive substantially less for their shares in the deal than recent share closing values.

"Because Compellent Tech shares traded at over $34 per share in the week prior to the merger announcement, we feel that the price offered to Compellent Tech shareholders is unfair"

The definitive acquisition agreement, which was announced on December 13, 2010, involves a transaction valued at approximately $820 million that is expected to close in early 2011. Under the proposed transaction, Compellent Tech shareholders will receive a cash payment of $27.75 for each share of Compellent Tech/CML common stock they hold. aBecause Compellent Tech shares traded at over $34 per share in the week prior to the merger announcement, we feel that the price offered to Compellent Tech shareholders is unfair,a said shareholder rights attorney Willie Briscoe. Further, at least one analyst has set a target price as high as $40 per share for Compellent Tech stock.

The investigation relates to possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Compellent Tech for approving this transaction and whether Compellent Techa™s Board of Directors acted in the shareholdersa™ best interests and fully disclosed all material aspects of the proposed transaction.

If you currently own shares of Compellent Tech/CML and would like additional information regarding this investigation, or if you have information regarding the allegations involved in this transaction, please contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at [ patrick@powerstaylor.com ], or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at [ WBriscoe@TheBriscoeLawFirm.com ]. There is no cost or fee to you.

The Briscoe Law Firm is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.