NEW YORK, Aug. 24, 2015 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Dot Hill Systems Corp. ("Dot Hill" or the "Company") (NasdaqGM:HILL) for potential breaches of fiduciary duties in connection with the sale of the Company to Seagate Technology for approximately $694 million in a cash transaction.
The Company's stockholders will only receive $9.75 for each share of Company common stock they own. However, the offer represents a negligible premium to Dot Hill's August 24, 2015 opening price of $9.62 per share and it is below at least one analyst target price of $10.00 per share.
Click here for more information: www.faruqilaw.com/HILL. There is no cost or obligation to you.
The investigation focuses on whether Dot Hill's Board of Directors breached their fiduciary duties to the Company's stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Dot Hill's shareholders.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.
If you own common stock in Dot Hill and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/HILL or contact Juan E. Monteverde, Esq. either via e-mail at email@example.com or by telephone at (877) 247-4292 or (212) 983-9330.
Faruqi & Faruqi, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Juan E. Monteverde, Esq.
Toll Free: (877) 247-4292
Phone: (212) 983-9330
Attorney Advertising. (C) 2015 Faruqi & Faruqi, LLP. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We are happy to discuss your particular case.
SOURCE Faruqi & Faruqi, LLP