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TheGrantLawFirm Files Class Action on Behalf of EMC Public Stockholders

Damaged by Dell acquisition

TheGrantLawFirm, PLLC announces that it filed an amended class action complaint on behalf of all public stockholders of EMC Corporation who are or will be damaged by a vote approving a proposed transaction pursuant to which EMC will be acquired by Dell Inc.

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 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 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. 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.

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