OVERLAND STORAGE INVESTOR ALERT BY THE FORMER ATTORNEY GENERAL OF LOUISIANA: Kahn Swick & Foti, LLC Investigates Adequacy Of Price And Process In Proposed Sale Of Overland Storage, Inc.
NEW ORLEANS, May 16, 2014 /PRNewswire/ -- Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC ("KSF") are investigating the proposed sale of Overland Storage, Inc. ("Overland" or the "Company") (NASDAQ: OVRL) to Sphere 3D Corporation ("Sphere 3D") (TSX VENTURE: ANY) (OTCQX: SPIHF). Under the terms of the proposed transaction, shareholders of Overland will receive only 0.510594 common shares of Sphere 3D, subject to certain potential adjustments, as set forth in the merger agreement. Based on the closing sales price of Sphere 3D common shares on May 14, 2014, the last trading day prior to the announcement of the transaction, on the TSX Venture Exchange, the deal represents an implied price per share of Overland stock of $4.43. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company.
If you believe that this transaction undervalues the Company and/or if you would like to discuss your legal rights regarding the proposed sale, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn ( firstname.lastname@example.org) or associate Michael J. Palestina ( email@example.com) toll free at any time at 855-768-1857.
To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC206 Covington St. Madisonville, LA 70447SOURCE Kahn Swick & Foti, LLC
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