Investigation of SanDisk/Western Digital Acquisition by WeissLaw

The fairness of the proposed acquisition of SanDisk Corporation by Western Digital Corporation is the subject of an investigation by WeissLaw LLP, a national class action, shareholder rights law firm.

The investigation is focusing on possible breaches of fiduciary duty and other violations of law by the board of directors of SanDisk for agreeing to sell the company to Western Digital. On October 21, 2015, the company announced it had reached a definitive agreement for Western Digital to acquire SanDisk in a transaction valued at approximately $19.0 billion. Under the terms of the agreement, SanDisk shareholders will receive $85.10 in cash and 0.0176 of a Western Digital common share for each SanDisk shares they own; representing a total value of $86.33 per SanDisk share based on Western Digital’s October 22, 2015 closing price.

WeissLaw is investigating whether SanDisk’s board acted to maximize shareholder value prior to entering into the agreement. Notably, at least one analyst set a target price of $90.00 per share, or approximately $4.00 above the offer price. Further, SanDisk reported revenues of $1.452 million in the third quarter of 2015, representing a 17% sequential increase in revenues.

Given these facts, WeissLaw is investigating whether SanDisk’ s board acted in the best interests of SanDisk’ s public shareholders by actively shopping the company to maximize shareholder value prior to entering into the agreement with Western Digital.