BALA CYNWYD, Pa., June 8, 2009 (GLOBE NEWSWIRE) -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Data Domain Inc. ("Data Domain" or the "Company") (Nasdaq:DDUP) relating to the proposed acquisition by NetApp, Inc., ("Nasdaq:NTAP").
On May 20, 2009, Data Domain agreed to sell the Company to NetApp, Inc.for approximately $25 a share made up of a combination of cash and stock. However, on June 2, 2009, EMC Corp. announced that it would offer $30 per share in all cash for the Company. This resulted in NetApp on June 3, 2009 agreeing to raise the offer to $30 per share to still be paid in a combination of cash and NetApp stock.
Data Domain's board has approved the NetApp bid. This has resulted in the investigation of the Date Domain Board for failure to maximize shareholder value.
If you own shares of Data Domain and wish to discuss the legal ramifications of the proposed acquisition by NetApp, 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 clients@brodsky-smith.com, or by calling toll free 877-LEGAL-90.