NEW YORK--(BUSINESS WIRE)--TheGrantLawFirm, PLLC announces that it filed an amended class action complaint (“Complaint”) on behalf of all public stockholders of EMC Corporation (“EMC” or the “Company”) who are or will be damaged by a vote approving a proposed transaction (the “Proposed Transaction”, the “Class”) pursuant to which EMC will be acquired by Dell Inc. (“Dell”). Excluded from the Class are defendants, and any person, firm, trust, corporation or other entity related or affiliated with any of the defendants. The defendants include members of EMC’s board of directors, Dell, and related entities that will be used to facilitate the Proposed Transaction.
The Complaint asserts claims pursuant to Sections 14(a) and 20(a) of the 1934 Act alleging that the Preliminary Proxy Statement/Prospectus (the “Proxy”) filed with the SEC on December 14, 2015, an amended version of which will be used to solicit shareholder approval of the Proposed Transaction, contains materially false and misleading statements and omissions of material fact.
Specifically, the Complaint asserts that the Proxy Statement omits material information concerning the Company’s projections, including the Company’s unlevered free cash flows, GAAP revenue, gross profit, operating income, net income and EPS, and various charges. It also asserts that the analyses of the two investment advisors who opined upon the fairness of the Proposed Transaction to EMC’s shareholders from a financial point of view, are materially misleading and/or make omissions of material fact, including that the Morgan Stanley & Co. LLC (“Morgan Stanley”) opinion fails to disclose an “adjusted July Case” which was used as the basis for many of its analyses, and that the analysis by Evercore Group L.L.C. (“Evercore”) fails to disclose EMC’s “2.x Plan”, the calculation of fully diluted shares, and the equity value at the unaffected price for both EMC and VMware, Inc. (“VMware”).
If you are a member of the Class described above, you may, no later than April 1, 2016, move the Court to serve as lead plaintiff. In order to serve as lead plaintiff, you must meet certain legal requirements.
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as “lead plaintiff.” Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain the TheGrantLawFirm, PLLC, or other counsel of your choice, to serve as your counsel in this action. Lynda J. Grant of TheGrantLawFirm, PLLC has been actively representing shareholders for over 30 years.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Lynda J. Grant at 212-292-4441 or via e-mail at firstname.lastname@example.org. You can also visit our website at www.grantfirm.com.