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Shareholder Rights Plan by Compellent Technologies Investigated by Tripp Levy PLLC

^{Published on 2010-12-16 10:30:51 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Tripp Levy PLLC, a leading national securities firm, announces an investigation into the proposed acquisition of Compellent Technologies Inc. (NYSE: CML) by Dell Inc. (NASDAQ: DELL). On December 13, 2010, Compellent announced that it entered into a definitive merger agreement for Dell to acquire Compellenta™s outstanding shares for $27.75 per share.

The investigation concerns, among other things, whether the consideration to be paid to Compellent shareholders is grossly unfair, inadequate, and substantially below the fair or inherent value of Compellent. Indeed, analysts have projected that Compellenta™s true inherent value is at least $40 per share.

In addition, on December 16, 2010, Compellent announced that its Board of Directors had adopted a stockholder rights plan, which was enacted to prevent an unsolicited bid by a third party to acquire Compellent, despite whether such acquisition will result in a higher buyout price for Compellenta™s shareholders.

The investigation further concerns whether the board of directors of Compellent may have breached their fiduciary duties by not acting in Compellent shareholders' best interests in connection with the sale process of Compellent.

If you own Compellent common stock and you wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact

Tripp Levy
Tripp Levy PLLC
125 East 82^nd Street
9^th Floor
New York, New York
Toll Free: 877-772-3975
Email: [ contact@tripplevy.com ]

Tripp Levy PLLC is a national law firm that specializes in mergers & acquisitions, takeover litigation, shareholder rights, and corporate governance matters in state and federal courts throughout the United States.

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