… And Levi & Korsinsky …

For breaches of fiduciary duty and other violations

This is a Press Release edited by StorageNewsletter.com on June 25, 2013 at 3:03 pm

Levi & Korsinsky, LLP is investigating the board of directors of sTec, Inc. for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the company to a subsidiary of Western Digital Corp.

Under the terms of the transaction sTec shareholders will receive $6.85 for each share of sTec stock the own. The transaction has a total approximate value of $340 million.

The investigation concerns whether the sTec board of directors breached their fiduciary duties to stockholders by failing to adequately shop the company before agreeing to enter into the transaction, and whether Western Digital Corp. is underpaying for sTec stock, thus unlawfully harming sTec shareholders.