ATLANTA, May 3, 2010 (GLOBE NEWSWIRE) -- Holzer Holzer & Fistel, LLC announces that it has filed a class action lawsuit in the United States District Court for the District of Minnesota on behalf of purchasers of Compellent Technologies, Inc. ("Compellent" or the "Company") (NYSE:CML) common stock who purchased shares between October 28, 2009 and April 7, 2010 (the "Class Period"). The lawsuit alleges, among other things, that Compellent failed to adequately disclose that it was forced to significantly lower prices on its products in order to combat pressure from increasing competition. The complaint alleges that because of problems Compellent faced in attracting and retaining customers, the Company lacked any reasonable basis for the positive statements it made during the Class Period relating to its business and prospects.
If you purchased shares of Compellent common stock during the Class Period, you have the legal right to petition the Court to be appointed a "lead plaintiff." A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Any such request must satisfy certain criteria and be made no later than June 14, 2010. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. If you are a Compellent investor and would like to discuss a potential lead plaintiff appointment, or your rights and interests with respect to the lawsuit, you may contact Michael I. Fistel, Jr., Esq., or Marshall P. Dees, Esq. via email at mfistel@holzerlaw.com, or mdees@holzerlaw.com, or via toll-free telephone at (888) 508-6832.
Holzer Holzer & Fistel, LLC is an Atlanta, Georgia law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, www.holzerlaw.com and upon request from the firm.