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Data Domain specializes in target-based deduplication solutions for disk based data backup. The company’s products minimize tape automation, replacing it with a disk based substitute by implementing lossless data compression and optimizing for streaming workloads.
Case description: Alleged breaches of fiduciary duty by the Data Domain board of directors by refusing to negotiate with a potential acquiror (EMC Corporation), agreeing to sell the Company without steps to maximize value, and agreeing to certain entrenching deal protection provisions in its merger agreement with NetApp.
Cypress acted as consultants to the Police & Fire Retirement System of the City of Detroit with regard to no-shop and matching rights provisions in the sale agreements and process and governance issues. The case settled.