Kirby McInerney Investigates sTec

Kirby McInerney LLP is investigating potential claims against the board of directors of sTec, Inc. related to the proposed acquisition of the company by HGST, a subsidiary of Western Digital Corp.

Under the terms of the transaction, HGST will purchase all of the outstanding common stock of sTec for $6.85 per share in cash, for a net transaction value of approximately $207 million.

The investigation concerns whether the sTec board of directors violated its fiduciary duties by agreeing to this transaction and whether the proposed $6.85 per share consideration adequately values sTec common shares.