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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.