Palm to settle class action lawsuit over HP acquisition | webOS Nation
 
 

Palm to settle class action lawsuit over HP acquisition

by Derek Kessler Wed, 09 Jun 2010 7:22 pm EDT

Rule # 13: Never ever involve a lawyer

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