Kirby McInerney LLP is investigating potential claims against the Board of Directors of sTec, Inc. (“sTec” or the “Company”) (NASDAQ: STEC) related to the proposed acquisition of the Company by HGST, a subsidiary of Western Digital Corp. (“HGST”) (NASDAQ: WDC). Under the terms of the transaction, HGST will purchase all of the outstanding common stock of sTec for $6.85 per share in cash, for a net transaction value of approximately $207 million. The investigation concerns whether the sTec Board of Directors violated its fiduciary duties by agreeing to this transaction and whether the proposed $6.85 per share consideration adequately values sTec common shares.
If you are a sTec shareholder and wish to obtain additional information, please contact J. Brandon Walker, Esq. by email at email@example.com, or by telephone at (212) 699-1145 or (888) 529-4787, or by filling out this contact form.
Kirby McInerney LLP is a New York-based law firm concentrating in securities, shareholder, whistleblower, antitrust and consumer litigation. For additional information, please go to www.kmllp.com.