Kendall Law Group Investigates 3Par Acquisition …

Kendall Law Group, a national securities firm led by a former federal judge with attorneys that include a former U.S. Attorney, is investigating 3PAR, Inc. for shareholders in connection with the proposed acquisition by Dell Inc.

The firm’s investigation seeks to determine whether 3PAR and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders.

On August 16, 2010, Dell announced that it would purchase 3PAR in an all-cash transaction valued at approximately $1.13 billion. Under the terms of the agreement, 3PAR shareholders would be entitled to receive $18.00 per share of 3PAR common stock owned. The transaction has been approved by the boards of both companies and is expected to close this year. Included in the deal is a $53.5 million termination fee, which 3PAR would owe Dell under certain circumstances if the deal were terminated, and a no solicitation agreement.