Investor Sues to Block HP's Palm Buy
May 7, 2010, 12:46 PM by Philip Berne
A Palm investor is suing the company over the treatment of common shareholders in the proposed HP buyout of the WebOS maker. Specifically, Business Week is reporting that investor Steve Ubaney believes preferred stock shareholders, including Palm investor Elevation Partners LP, got a much higher price for their preferred Series B shares. Ubaney claims that these share should have been valued the same as common shares in a Palm buyout, and he is suing to block the purchase and for unspecified damages.
TCL to Revive Palm with Help from the Tech Community
TCL Communications, the parent company of Alcatel OneTouch, today confirmed to Phone Scoop that it has acquired the Palm brand and plans to revive the failed tech company. "We are interested in the brand because we believe the brand has value," said TCL CEO George Guo.
HP to Shutter WebOS Support January 15
HP recently indicated that it will cease all backend support for WebOS devices on January 15. After that time, WebOS device owners will no longer be able to download or update apps, reset or restore their devices, setup new devices, or retrieve lost passwords.
SEC Investigating Suspicious BlackBerry Trades
The Securities and Exchange Commission has launched an investigation into trades of BlackBerry stock around the time a report suggested Samsung might buy the company. On January 14, Reuters reported that Samsung planned to buy BlackBerry for as much as $7.5 billion.
SoftBank Invests Another $73 Million in Sprint
SoftBank has purchased yet more shares of Sprint stock, boosting its stake in the company to just over 80%. SoftBank shelled out $73 million for about 16.8 million shares.
Japan's SoftBank to Buy UK's ARM for $32 Billion
SoftBank today announced plans to buy ARM Holdings for $32 billion. SoftBank runs one of Japan's largest wireless networks and is the parent company of Sprint in the U.S., while ARM designs and licenses the Cortex-branded mobile processors often found in today's smartphones and tablets.
"I'm not making as much money as I want"
Isn't it wonderful the way people think?
"So I'll sue the company to make sure it can't sell, it goes out of business, and I get nothing"
Actually, that's not true. He'll get years of Chapter 7 bankruptcy liquidation and litigation. After that'...