Isilon Sued by Shareholder Over EMC

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Isilon Systems Sued by Shareholder Over EMC Purchase

Isilon Systems Inc. was sued by a shareholder who claims EMC Corp.’s $2.25 billion purchase of the company is unfair and doesn’t reflect its true value. The purchase price is "wholly inadequate," considering Isilon could grow 36 percent annually to an estimated $4 billion by 2014, lawyers for shareholder Saravanan Coimbatore said, citing market research firm International Data Corp. in the complaint filed today.
The case is Saravanan Coimbatore v. Isilon Systems Inc., CA6050, Delaware Chancery Court (Wilmington).