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Law Office of Jonathan M. Stein, P.L. Investigates Possible Breach of Fiduciary Duty by the Board of Compellent Technologies, I

^{Published on 2010-12-13 15:25:21 - Market Wire}
 

BOCA RATON, Fla.--([ BUSINESS WIRE ])--The Law Office of Jonathan M. Stein, P.L. is investigating the Board of Directors of Compellent Technologies, Inc. ("Compellent" or the "Company") (NYSE: CML) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to complete a sale of the Company to Dell Inc. Under the terms of the proposed transaction, Compellent shareholders are to receive $27.75 per share in cash for each share of Compellent for a total equity value of approximately $960 million, and an aggregate purchase price of approximately $820 million, net of Compellenta™s cash.

The investigation involves whether the Board of Directors of Compellent breached their fiduciary duties to Compellent stockholders by failing to adequately shop the Company before agreeing to enter into the transaction and whether Compellent has disclosed all material information to shareholders about the proposed transaction. According to Yahoo Finance, at least one analyst has set a price target of $40.00 per share for Compellent stock. Further, prior to the public speculation of a transaction, Compellent stock has increased over 125% since August 2010.

If you own stock in Compellent and wish to obtain additional information about your rights, or if you have information regarding the above investigation, please contact Jonathan M. Stein, Esq. either via email at [ jstein@jonathansteinlaw.com ] or by telephone at 561-961-2244.

The Law Office of Jonathan M. Stein, P.L.represents shareholders and consumers in complex litigation, including class action and derivative litigation. More information about the firm is available through its website, [ www.jonathansteinlaw.com ], and upon request from the firm. Jonathan M. Stein is the attorney responsible for the content of this release.