TheGrantLawFirm, PLLC Files Class Action on Behalf of EMC Corporation Public Stockholders
February 01 2016 - 5:29PM
Business Wire
TheGrantLawFirm, PLLC announces that it filed an amended class
action complaint (“Complaint”) on behalf of all public stockholders
of EMC Corporation (“EMC” or the “Company”) who are or will be
damaged by a vote approving a proposed transaction (the “Proposed
Transaction”, the “Class”) pursuant to which EMC will be acquired
by Dell Inc. (“Dell”). Excluded from the Class are defendants, and
any person, firm, trust, corporation or other entity related or
affiliated with any of the defendants. The defendants include
members of EMC’s board of directors, Dell, and related entities
that will be used to facilitate the Proposed Transaction.
The Complaint asserts claims pursuant to Sections 14(a) and
20(a) of the 1934 Act alleging that the Preliminary Proxy
Statement/Prospectus (the “Proxy”) filed with the SEC on December
14, 2015, an amended version of which will be used to solicit
shareholder approval of the Proposed Transaction, contains
materially false and misleading statements and omissions of
material fact.
Specifically, the Complaint asserts that the Proxy Statement
omits material information concerning the Company’s projections,
including the Company’s unlevered free cash flows, GAAP revenue,
gross profit, operating income, net income and EPS, and various
charges. It also asserts that the analyses of the two investment
advisors who opined upon the fairness of the Proposed Transaction
to EMC’s shareholders from a financial point of view, are
materially misleading and/or make omissions of material fact,
including that the Morgan Stanley & Co. LLC (“Morgan Stanley”)
opinion fails to disclose an “adjusted July Case” which was used as
the basis for many of its analyses, and that the analysis by
Evercore Group L.L.C. (“Evercore”) fails to disclose EMC’s “2.x
Plan”, the calculation of fully diluted shares, and the equity
value at the unaffected price for both EMC and VMware, Inc.
(“VMware”).
If you are a member of the Class described above, you may, no
later than April 1, 2016, move the Court to serve as lead
plaintiff. In order to serve as lead plaintiff, you must meet
certain legal requirements.
A lead plaintiff is a representative party that acts on behalf
of other class members in directing the litigation. In order to be
appointed lead plaintiff, the Court must determine that the class
member's claim is typical of the claims of other class members, and
that the class member will adequately represent the class. Under
certain circumstances, one or more class members may together serve
as “lead plaintiff.” Your ability to share in any recovery is not,
however, affected by the decision whether or not to serve as a lead
plaintiff. You may retain the TheGrantLawFirm, PLLC, or other
counsel of your choice, to serve as your counsel in this action.
Lynda J. Grant of TheGrantLawFirm, PLLC has been actively
representing shareholders for over 30 years.
If you wish to discuss this action or have any questions
concerning this notice or your rights or interests with respect to
these matters, please contact Lynda J. Grant at 212-292-4441 or via
e-mail at lgrant@grantfirm.com. You can also visit our website at
www.grantfirm.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20160201006375/en/
THEGRANTLAWFIRM, PLLCLynda J. Grant,
212-292-4441lgrant@grantfirm.com
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