BALA CYNWYD, Pa., May 19, 2014 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Overland Storage, Inc. ("Overland Storage" or the "Company") (Nasdaq: OVRL) relating to the proposed acquisition by Sphere 3D Corporation ("Sphere 3D").
Click here to learn more about the investigation http://brodsky-smith.com/760-ovrl-overland-storage-inc.html, or call: 877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction, Overland will receive only 0.510594 shares of Sphere 3D stock for each share of Overland Storage stock they own. The transaction values Overland Storage at approximately $4.43 per share. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Overland Storage for not acting in the Company's shareholders' best interests in connection with the sale process.
The transaction may undervalue Overland Storage and will result in a loss for many long term holders of Overland Storage stock. Overland Storage stock traded at $5.54 per share as recently as February 12, 2014 and traded at $11.40 per share on July 27, 2012. In addition, an analyst has set a $15.00 per share price target for Overland Storage.
If you own shares of Overland Storage common stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at firstname.lastname@example.org, by visiting http://brodsky-smith.com/760-ovrl-overland-storage-inc.html, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and case action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
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