Tenth Law Firm Investigating Overland: Brower Piven

The securities litigation law firm of Brower Piven has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Overland Storage, Inc. and other violations of state law by the board of directors of Overland relating to the proposed buyout of the company by Sphere 3D Corporation.

Under the terms of the transaction, Overland shareholders will receive 0.510594 shares of Sphere 3D for each share of Overland Storage stock they own, representing an approximate value of $4.43 per share.

The firm’s investigation seeks to determine, among other things, whether the company’s board of directors breached their fiduciary duties by failing to maximize shareholder value before agreeing to enter into this transaction, and whether Sphere 3D is underpaying for Overland shares.