BALA CYNWYD, Pa., May 19, 2014 /PRNewswire/ -- Law office of
Brodsky & Smith, LLC announces that it is investigating
potential claims against the Board of Directors of Overland
Storage, Inc. ("Overland Storage" or the "Company") (Nasdaq: OVRL)
relating to the proposed acquisition by Sphere 3D Corporation
("Sphere 3D").
Click here to learn more about the investigation
http://brodsky-smith.com/760-ovrl-overland-storage-inc.html, or
call: 877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction, Overland will receive only
0.510594 shares of Sphere 3D stock for each share of Overland
Storage stock they own. The transaction values Overland Storage at
approximately $4.43 per share. The
investigation concerns possible breaches of fiduciary duty and
other violations of state law by the Board of Directors of Overland
Storage for not acting in the Company's shareholders' best
interests in connection with the sale process.
The transaction may undervalue Overland Storage and will result
in a loss for many long term holders of Overland Storage stock.
Overland Storage stock traded at $5.54 per share as recently as February 12, 2014 and traded at $11.40 per share on July
27, 2012. In addition, an analyst has set a $15.00 per share price target for Overland
Storage.
If you own shares of Overland Storage common stock and wish to
discuss the legal ramifications of the investigation, or have any
questions, you may e-mail or call the law office of Brodsky &
Smith, LLC who will, without obligation or cost to you, attempt to
answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith,
LLC, Two Bala Plaza, Suite 602, Bala
Cynwyd, PA 19004, by e-mail at
investorrelations@brodsky-smith.com, by visiting
http://brodsky-smith.com/760-ovrl-overland-storage-inc.html, or
calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive
expertise representing shareholders throughout the nation in
securities and case action lawsuits. The attorneys at Brodsky &
Smith have been appointed by numerous courts throughout the country
to serve as lead counsel in class actions and successfully
recovered millions of dollars for our clients and shareholders.
Attorney advertising. Prior results do not guarantee a similar
outcome.
SOURCE Brodsky & Smith, LLC