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 Overland
Storage Inc. (“Overland” or the “Company”) (NASDAQ: OVRL) for potential
breaches of fiduciary duties in connection with the sale of the Company
to Sphere 3D Corporation for approximately $81 million. The Company’s
stockholders will receive 0.510594 shares of Sphere 3D shares, or
roughly $4.43 for each share of Overland common stock they own. However,
Overland’s share price has traded at significantly higher prices for
much of the past year, closing at $5.65 as recently as February 12, 2014.
Eric Kelly, the Chief Executive Officer, President, and board member of
Overland, is also the Chairman of the Board of Sphere 3D.
Cick here for more information: www.faruqilaw.com/OVRL.
There is no cost or obligation to you.
The investigation focuses on whether Overland’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
Overland’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
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If you own common stock in Overland and wish to obtain additional
information and protect your investments free of charge, please visit us
at www.faruqilaw.com/OVRL
or contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com
or by telephone at (877) 247-4292 or (212) 983-9330.
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Copyright Business Wire 2014