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. …

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