Compellent Technologies, Inc. ("Compellent" or the Company) is an American manufacturer of enterprise computer data storage systems.

According to a press release dated April 14, 2010, the Complaint alleges that throughout the Class Period, Defendants failed to disclose material adverse facts about the Company’s true financial condition, business and prospects. Specifically, the Complaint alleges that Defendants failed to disclose: (i) that Compellent was experiencing increasing competition which was forcing it to dramatically lower prices in order to continue to generate sales in line with internal expectations; (ii) that as a result of increased competition, the Company was being forced to raise expenditures associated with acquiring new customers far in excess of internal expectations; (iii) that Compellent was experiencing significant issues with its sales force which were further complicating and exacerbating the negative impact of slowing sales; and (iv) that, based on the foregoing, Defendants lacked a reasonable basis for their positive statements about the Company, its prospects and growth.

On April 7, 2010, Compellent announced its preliminary financial results for the first quarter of 2010, the period ended March 31, 2010. Upon the disappointing announcement, shares of the Company’s stock fell $4.54 per share, or 26%, to close at $13.02 per share, on unusually heavy trading volume.

On June 24, 2010, an Order was issued by the Court based upon a joint stipulation regarding appointment of lead Plaintiff and approval of selection of lead Counsel and liaison Counsel.

Also on June 24, 2010, an accompanying Order was issued by the Court consolidating the separate actions of the lead Plaintiffs for pre-trial purposes. Each file will maintain its own court file number.

On August 10, 2010, a Consolidated Complaint for violation of the federal securities laws was filed by the co-lead Plaintiffs.