Shareholder Targets $960M Dell-Compellent Deal

Law360, New York (December 20, 2010, 6:04 PM EST) -- Compellent Technologies Inc. shareholder Genesee County Employees' Retirement System has filed a putative class action seeking to block Dell Inc.'s planned $960 million acquisition of the company, calling the proposed amount grossly inadequate.

The plaintiff lodged its complaint in the Chancery Court of the State of Delaware on Friday, naming Dell, data storage developer Compellent and Compellent's board of directors as defendants.

The board breached its fiduciary duties by approving the deal at the too-low price without trying to maximize shareholder value, and adopting a shareholder...
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