… Levi & Korsinsky …

Levi & Korsinsky LLP is investigating the board of directors of Overland Storage, Inc. for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the company to Sphere 3D Corporation.

Under the terms of the transaction, Overland shareholders will receive 0.510594 shares of Sphere 3D for each share of Overland stock they own, subject to certain potential adjustments; this represents an approximate value of $4.43 per share.

The investigation concerns whether the Overland board of directors breached their fiduciary duties to stockholders by failing to adequately shop the company before agreeing to enter into this transaction, and whether Sphere 3D is underpaying for Overland shares.

In particular, at least one financial analyst set a target high price for Pinnacle stock at $35.00 per share.