Iomega Shareholder Challenges Planned EMC Merger

Law360, New York (May 13, 2008, 12:00 AM EDT) -- A shareholder of technology company Iomega Corp. has hit the corporation and its directors with a proposed class action over EMC Corp.'s proposed acquisition of the company.

EMC, which makes data storage and management software, offered on April 24 to buy Iomega, which makes data storage devices, at $3.85 per share. Under the merger deal, which must still be approved by American and European antitrust authorities, Iomega would survive as a wholly owned subsidiary of EMC.

Shareholder Fievel Gottlieb filed his complaint May 8 in the...
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