Kendall Law Group Files a Complaint vs. Data Domain and NetApp

Kendall Law Group, led by a former Federal Judge and US Attorney, announces that a complaint has been filed against the Board of Data Domain, Inc., NetApp, Inc. and their acquisition entities.

The complaint, filed in the Delaware Chancery Court, alleges that Data Domain’s Board has refused a $30 per share all cash offer from EMC Corporation. Instead, the Board has decided to accept the offer of NetApp, Inc., which imposed a ‘no-shop’ provision and a $57 million termination fee on Data Domain.

EMC’s all-cash proposal is superior to the proposed NetApp transaction providing Data Domain stockholders greater value and certainty. EMC’s proposal is not subject to a financing or due diligence contingency, and the company will use existing cash balances to finance the transaction. The EMC Board of Directors unanimously approved the proposal.

Data Domain, Inc. is located in Santa Clara, California and had $123.62 million in total revenue in 2007 and $274.08 million in total revenue with a net income of $21.59 million in 2008. Shares of Data Domain, Inc. closed at $17.91 per share on Wednesday, May 20, 2009, but traded after hours at $23.98 per share. DDUP shares were down from a 52-week high of $25.16 per share and reached $39.24 per share in October 2007.

Although Kendall Law Group has not yet filed a complaint against Data Domain or its Board of Directors, Kendall Law Group has had success representing investors against companies and boards of directors accused of securities violations.

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One More Lawsuit Against Directors of Data Domain
This time by law firms Bernstein Litowitz Berger & Grossmann, and Grant & Eisenhofer