Why the Battle for Data Domain?

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Why the Battle for Data Domain?

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Thursday, 18 June 2009

Article Index
Why the Battle for Data Domain?
Data Domain Launched
New CEO Takes Helm
Venture Capital Injection
Momentum Gathers
Data Protection to Data DeDup
Data Domain Goes Public
Shifting Into the Fast Lane
NetApp Comes a-Courting
EMC Wants In
The Showdown

Page 11 of 11

The Showdown

NetApp offers to match EMC's bid, and on June 15, after comparing the two offers, Data Domain's board recommends shareholders reject EMC in favor of NetApp.

The final chapter of this story still has to be written, but at least one stockholders group has filed a class action suit against Data Domain saying it breached its fiduciary duty by favoring one of the two bidders for the company.

Comments (1)

	1. 06-18-2009 13:17
	The battle for Data Domain appears to be getting messier. In addition to the class action law suit mentioned in the slide show, a second class action suit against the Data Domain board has been filed in California. New York law firm Levi & Korsinsky filed the suit alleging Data Domain’s board breached its fiduciary duty by favoring NetApp’s bid over EMC. The firm stated in announcing the suit: “Under the terms of the proposal, Data Domain’s shareholders would receive $30 to be paid in a combination of cash and NetApp stock. In addition, NetApp offered positions on its board to certain Data Domain officers and there are rumors that the Data Domain CEO Slootman could be the next CEO of NetApp. This raises questions as to whether the sales process conducted by the board was fair and open.” Registered