Levi & Korsinsky is investigating the Board of Directors of Xyratex Ltd. (“Xyratex” or “the Company”) (NasdaqGS:XRTX) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Seagate Technology plc (NasdaqGS:STX).
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Under the terms of transaction, Xyratex shareholders will receive $13.25 in cash for each share of Xyratex stock they own. The transaction has a total approximate value of $374 million. The investigation concerns whether the Xyratex Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Seagate Technology plc is underpaying for Xyratex shares. In particular at least one analyst set a price target for Xyratex stock at $14.00 per share.
If you own Xyratex common stock and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at
or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit
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