Rigrodsky & Long, P.A. Announces Investigation Of STec, Inc. Buyout

Rigrodsky & Long, P.A.:
  • Do you own shares of sTec, Inc. (NASDAQ GS: STEC )?
  • Did you purchase any of your shares prior to June 24, 2013?
  • Do you think the proposed buyout price is too low?
  • Do you want to discuss your rights?

Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of sTec, Inc. (“sTec” or the “Company”) (NASDAQ GS: STEC) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by a wholly-owned subsidiary of Western Digital Corporation (“Western Digital”) (NASDAQ GS: WDC) in a transaction valued at approximately $340 million.

Click here to learn more: http://www.rigrodskylong.com/investigations/stec-inc-stec.

Under the terms of the agreement, public shareholders of sTec will receive $6.85 per share in cash for each share of sTec they own.

The investigation concerns whether sTec’s board of directors failed to adequately shop the Company and obtain the best possible value for sTec’s shareholders before entering into an agreement with Western Digital.

If you own the common stock of sTec and purchased your shares before June 24, 2013, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth Rigrodsky or Peter Allocco at Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530, by telephone at (888) 969-4242; by e-mail to info@rigrodskylong.com, or at: http://www.rigrodskylong.com/investigations/stec-inc-stec.

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.

Attorney advertising. Prior results do not guarantee a similar outcome.

Copyright Business Wire 2010

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