SOURCE: Kendall Law Group

Kendall Law Group

June 16, 2009 08:45 ET

Kendall Law Group Announces Complaint Against Data Domain Board

DALLAS, TX--(Marketwire - June 16, 2009) - Kendall Law Group, led by a former Federal Judge and US Attorney, announces that a complaint has been filed against the Board of Data Domain, NetApp, and their acquisition entities. The complaint, filed in the Delaware Chancery Court, alleges that Data Domain's Board (NASDAQ: DDUP) has refused a $30 per share all cash offer from EMC Corporation. Instead, the Board has decided to accept the offer of NetApp Inc., which imposed a "no-shop" provision and a $57 million termination fee on Data Domain.

EMC's all-cash proposal is superior to the proposed NetApp transaction providing Data Domain stockholders greater value and certainty. EMC's proposal is not subject to a financing or due diligence contingency, and the company will use existing cash balances to finance the transaction. The EMC Board of Directors unanimously approved the proposal.

Data Domain, Inc. is located in Santa Clara, California and had $123.62 million in total revenue in 2007 and $274.08 million in total revenue with a net income of $21.59 million in 2008. Shares of Data Domain, Inc. closed at $17.91 per share on Wednesday, May 20, 2009, but traded after hours at $23.98 per share. DDUP shares were down from a 52-week high of $25.16 per share and reached $39.24 per share in October 2007.

Although Kendall Law Group has not yet filed a complaint against Data Domain or its Board of Directors, Kendall Law Group has had tremendous success representing investors against companies and boards of directors accused of securities violations. For more information about shareholder rights, please contact attorney Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com.