Rigrodsky & Long, P.A. Announces Investigation Of sTec, Inc. Buyout
June 24 2013 - 12:19PM
Business Wire
Rigrodsky & Long, P.A.:
- Do you own shares of sTec, Inc.
(NASDAQ GS: STEC)?
- Did you purchase any of your shares
prior to June 24, 2013?
- Do you think the proposed buyout
price is too low?
- Do you want to discuss your
rights?
Rigrodsky & Long, P.A. announces that it is investigating
potential legal claims against the board of directors of sTec, Inc.
(“sTec” or the “Company”) (NASDAQ GS: STEC) regarding possible
breaches of fiduciary duties and other violations of law related to
the Company’s entry into an agreement to be acquired by a
wholly-owned subsidiary of Western Digital Corporation (“Western
Digital”) (NASDAQ GS: WDC) in a transaction valued at approximately
$340 million.
Click here to learn more:
http://www.rigrodskylong.com/investigations/stec-inc-stec.
Under the terms of the agreement, public shareholders of sTec
will receive $6.85 per share in cash for each share of sTec they
own.
The investigation concerns whether sTec’s board of directors
failed to adequately shop the Company and obtain the best possible
value for sTec’s shareholders before entering into an agreement
with Western Digital.
If you own the common stock of sTec and purchased your shares
before June 24, 2013, if you have information or would like to
learn more about these claims, or if you wish to discuss these
matters or have any questions concerning this announcement or your
rights or interests with respect to these matters, please contact
Seth Rigrodsky or Peter Allocco at Rigrodsky & Long, P.A., 825
East Gate Boulevard, Suite 300, Garden City, New York 11530, by
telephone at (888) 969-4242; by e-mail to info@rigrodskylong.com,
or at:
http://www.rigrodskylong.com/investigations/stec-inc-stec.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware
and Garden City, New York, regularly prosecutes securities class,
derivative and direct actions, shareholder rights litigation and
corporate governance litigation, on behalf of shareholders in
states and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar
outcome.
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