Rigrodsky & Long, P.A. announces that it is investigating potential claims against the board of directors of SonicWALL, Inc. (“SonicWALL” or the “Company”) (Nasdaq: SNWL) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired and taken private by Thoma Bravo, LLC (“Thoma Bravo”) and the Ontario Teachers’ Pension Plan’s private investor department, Teachers’ Private Capital, in a transaction valued at approximately $717 million.

Under the proposed agreement, SonicWALL shareholders will receive $11.50 in cash for each share of SonicWALL common stock they hold.  The investigation concerns whether SonicWALL’s board of directors failed to adequately shop the Company and obtain the best price possible for SonicWALL’s shareholders before entering into the agreement with Thoma Bravo and Teachers’ Private Capital. 

As recent as April 23, 2010, the Company reported its first quarter 2010 financial results wherein SonicWALL reported revenue of $55.3 million, representing 17% year-over-year growth.  In fact, the SonicWALL’s CEO, Matt Medeiros, commented on the Company’s growth: “SonicWALL had a strong start to 2010[.]  We believe that our technology leadership will enable us to continue to build momentum in the mid-enterprise and SMB markets throughout the year.”  Indeed, at least one analyst has set a price target of $13.00 per share.

If you own the common stock of SonicWALL and purchased your shares before June 3, 2010, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky, Esquire or Noah R. Wortman, Case Development Director, of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware, by telephone at (888) 969-4242, or by e-mail to info@rigrodskylong.com.

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

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