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Levi & Korsinsky Announce Class Action
Headline Legal News |
2009/06/17 09:51
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Levi & Korsinsky announces that a class action lawsuit has been filed in the Superior Court of the State of California challenging the proposed acquisition of Data Domain, Inc. ("Data Domain" or the "Company") (Nasdaq:DDUP).
The Complaint arises out of the announcement by Data Domain stating that it had entered into a definitive merger agreement with NetApp, Inc. Under the terms of the proposal, Data Domain's shareholders would receive $30.00 to be paid in a combination of cash and NetApp stock. In addition, NetApp offered positions on its board to certain Data Domain officers and there are rumors that the Data Domain CEO Slootman could be the next CEO of NetApp. This raises questions as to whether the sales process conducted by the Board was fair and open. If you own common stock in Data Domain and wish to obtain additional information, please contact us at the number listed below or visit www.zlk.com/ddup1.html
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. |
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Investment Fraud Litigation |
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Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws. Securities Arbitration. Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
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