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Faruqi & Faruqi to Investigate Dot Hill …

Over proposed sale of company to Seagate

Faruqi & Faruqi, LLP, a national securities firm headquartered in New York City, is investigating the board of directors of Dot Hill Systems Corp. for potential breaches of fiduciary duties in connection with the sale of the company to Seagate Technology plc for approximately $694 million in a cash transaction.

The company’s stockholders will only receive $9.75 for each share of company common stock they own. However, the offer represents a negligible premium to Dot Hill’s August 21, 2015 opening price of $9.69 per share and it is below at least one analyst target price of $10.00 per share.

The investigation focuses on whether Dot Hill’s board of directors breached their fiduciary duties to the company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the company to the detriment of Dot Hill’s shareholders.

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