Palm to settle class action lawsuit over HP acquisition 14
Wed, 09 Jun 2010 7:22 pm EDT 
When it was announced that HP would be buying Palm for $5.70 a share, we knew the lawsuits were only a second or two away. Sure enough, they were filed, and being the legal geniuses that we aren’t, we thought that such things would blow over once the dust settled. However, pending lawsuits have a tendency to throw wrenches into the whole buying other companies business, so getting it done and out of the way was in the best interests of Palm, HP, and shareholders. To wit, Palm today announced that they are settling the class action suit filed in Delaware over the acquisition. The details of the settlement have not yet been disclosed - they were just filed with the SEC today - but this gets at least one lawyer out of the way so the other lawyers can do their merger and acquisition jobs.
Source: Palm
14 Comments
that photo is from NCIS one of Gibbs Rules love that show...
But to tell you the truth i am so sick of palm pre i mean i love it but i hate it too because i just got my 5th replacement brand new pre and its got a blotch on the screen
yay! get rid of it and lets get to work...build me a awesome smartphone : )
I hope hp fits well with palm,palmfans know we need it!
I know there will be some Iphone and A-noid fans on here putting their negative spin on this article.We/ I know that they are on here.They don't interesting news on their OS so that hate on WebOS.
we will see if they do i am hoping it will but i cant wait much longer i feel as if i have been suckered in to buying a cheap POS but the OS is in no means a POS just the hardware and have never has a palm device fail like Pre does...
"a tendency to through wrenches"
er, think Derek meant to say "throw" wrenches
Glad to see the info in the article, but PLEASE fix the grammar:
"However, pending lawsuits have a tendency to THROW wrenches into the whole buying other companies business..."
It needs to make sense to the readers.
made sense to me,,anyone else? Thanks for the info
ha ha we have English teachers in here..
Ah, I are good with the Englishing. Fixed.
@Derek-Here is the reason for the lawsuit:
A friend has sent you an Express News Article
Palm settles HP acquisition suit; deal unchanged
LOS ANGELES - Palm Inc. says that it has settled a class action suit brought by shareholders who argued they did not get the best deal when directors approved the company's acquisition by Hewlett-Packard Co. for $1.4 billion in cash.
The Sunnyvale, Calif.-based company did not disclose the terms of the settlement, but said in a securities filing that it "will not affect the amount of the merger consideration that Palm stockholders are entitled to receive in the merger."
Palm shares added a penny to close at $5.68 Wednesday. HP in April announced it would pay $5.70 for every Palm common share.
The Associated Press
This information sent to you from Express Stocks. Download FREE Express for your mobile phone - free news, sports, weather, travel and more: http://www.pocketexpress.com/downloadexpress.php?f=03ae5107dc8974ff0e7ab... or visit http://pxme.us/gp.php?f=03ae5107dc8974ff0e7abfedbb1fe91ed6e9a621 to install directly from your phone!
-- Sent from my Palm Pre
Figures. I sold my shares last month.
If HP kills the WebOS smartphone line I will sue them myself. >:(
How about all we PreCentral members get together and file a class action lawsuit to get Palm to tell us what their next device will be (we can claim emotional distress, our families could claim loss of companionship for all the times we keep checking here to see if has been announced yet, etc.). We could ask for billions, but then just settle for them telling us what it is.
HP is well-known for its abysmal tech support and incredibly horrible printer and scanner software and drivers. All HP can do for Palm is add to its woes or speed up its demise.