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 email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/xyratex-xrtx/.Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm’s 26 attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.