An investigation on behalf of investors of Dot Hill Systems Corp. (NASDAQ:HILL) in connection with the proposed takeover was announced and NASDAQ:HILL stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/14/2015 -- An investigation on behalf of investors in shares of Dot Hill Systems Corp. (NASDAQ:HILL) was announced concerning whether the takeover of Dot Hill Systems Corp. by Seagate Technology plc is unfair to NASDAQ:HILL stockholders.
Investors who purchased shares of Dot Hill Systems Corp. (NASDAQ:HILL) and currently hold any of those NASDAQ:HILL shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Dot Hill Systems Corp. breached their fiduciary duties owed to NASDAQ:HILL investors in connection with the proposed acquisition.
On August 18, 2015, Seagate Technology plc (NASDAQ: STX) and Dot Hill Systems Corp. (NASDAQ:HILL) announced that they have entered into an agreement under which a wholly-owned indirect subsidiary of Seagate will commence a tender offer for all of the outstanding shares of Dot Hill Systems Corp. (NASDAQ:HILL) in an all-cash transaction valued at $9.75 per share, or a total of approximately $694 million on a fully-diluted equity value basis.
However, given that at least one analyst has set the high target price for NASDAQ:HILL shares at $10.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:HILL stockholders. More specifically, the investigation concerns whether the Dot Hill Systems Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
On September 10, 2015, NASDAQ:HILL shares closed at $9.70 per share.
Those who are current investors in Dot Hill Systems Corp. (NASDAQ:HILL) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com