Novell’s board must face investor suit over Attachmate sale

WILMINGTON, Delaware (Reuters) – Novell Inc directors who approved the information technology company’s 2010 sale for $ 2.2 billion must defend a lawsuit that alleges they unfairly favored Attachmate Corp over other bidders. The shareholders brought a reasonably conceivable claim that the directors acted in bad faith based on their “unexplained, extremely favorable treatment of Attachmate,” Delaware Court of Chancery Judge John Noble wrote in a 50-page opinion. His ruling on Wednesday will allow the case to proceed. …

Full Story Via Tech News Headlines – Yahoo! News

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>