Palm To Settle Stockholder Lawsuit

Posted By: Ryan Kairer Wednesday, June 9, 2010 4:16:37 PM

Palm today announced is has agreed to settle a class action lawsuit recently brought over the HP buyout deal. The lawsuit filed shortly after the HP announcement claimed common stock holders were cheated while holders of preferred shares such as Elevation Partners got an unfair benefit from the transaction.

Palm has now entered into a memorandum of understanding in which they agreed on the terms of a settlement of the litigation, which would include the dismissal with prejudice of all claims against all of the defendants. Interested readers can find all the granular details and background info in this SEC filling. The acquisition deal with HP remains unchanged.

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... and the winner is?

CFreymarc @ 6/11/2010 6:32:05 PM # Q
The big question, who cashed in on this suit?
RE: ... and the winner is?
e_tellurian @ 6/11/2010 7:00:38 PM # M Q
Let's hope that those that riked to build Palm benifit from their investment. Perhaps this fresh capital will continue to build more choices.

E-T

RE: ... and the winner is?
richf @ 6/11/2010 7:01:51 PM # Q
In a class action the only winner is the lawyers. Most time the people get a five dollar certificate for their next purchase.
Have a nice day!
Pilot 1000->Pilot 5000->Pilot Pro->IIIe->IIIc->M500->M505->M515->TC->T3->T5->Treo 650P->Treo 700P->Droid>Pre
RE: ... and the winner is?
e_tellurian @ 6/11/2010 8:35:51 PM # M Q
The legal system can do much to enhance our economy. The Internet can help this process by helping to identify date and time. This will help to identify content significance.

E-T

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