Faruqi & Faruqi, LLP, Partner Juan E. Monteverde Launches an Investigation of sTec, Inc. Over the Pr
Faruqi & Faruqi, LLP, Partner Juan E. Monteverde Launches an Investigation of sTec, Inc. Over the Proposed Sale of the Company to Western Digital Corp.
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors ofsTec, Inc.
NEW YORK--(BUSINESS WIRE)-- Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of sTec, Inc. ("sTec" or the "Company") (NasdaqGS: STEC) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Western Digital Corp. (NasdaqGS: WDC) in a deal valued at approximately $340 million. Under the terms of the proposed transaction, sTec's stockholders will receive $6.85 in cash for each share of sTec common stock they own.
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The investigation focuses on whether sTec's Board of Directors breached their fiduciary duties to the Company's stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of sTec'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.
If you own common stock in sTec and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/STEC or contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.
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