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SHAREHOLDER ALERT: Brower Piven Announces The Investigation Of Overland Storage, Inc. In Connection With The Proposed Sale Of The Company To Sphere 3D Corporation

Stocks in this article: OVRL

The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Overland Storage, Inc. (“Overland” or the “Company”) (NasdaqCM: OVRL) and other violations of state law by the board of directors of Overland Storage relating to the proposed buyout of the Company by Sphere 3D Corporation (“Sphere 3D”).

Under the terms of the transaction, Overland Storage shareholders will receive 0.510594 shares of Sphere 3D for each share of Overland Storage stock they own, representing an approximate value of $4.43 per share. The firm’s investigation seeks to determine, among other things, whether the Company’s board of directors breached their fiduciary duties by failing to maximize shareholder value before agreeing to enter into this transaction, and whether Sphere 3D is underpaying for Overland Storage shares.

If you currently own common stock of Overland Storage and would like to learn more about the investigation being conducted by Brower Piven, without cost or obligation to you, click here: http://www.browerpiven.com/currentinvestigations.html.

You may also request more information by contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616. Those who inquire by email are encouraged to include their mailing address and telephone number.

Attorneys at Brower Piven together have more than a century of experience litigating securities and other class action cases.

Copyright Business Wire 2010

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