Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of Palm, Inc.
29 April 2010 - 11:00AM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims against the board of directors of
Palm, Inc. (“Palm” or the “Company”) (NASDAQ:PALM) related to the
Company’s agreement to be acquired by Hewlett-Packard Company
(“HP”). The proposed transaction is valued at approximately $1.2
billion.
Under the terms of the definitive merger agreement entered into
by the parties, Palm stockholders will receive $5.70 in cash for
each share of Palm common stock they own. Palm shares traded above
$5.70 as recently as March 2010, and the Company’s shares traded at
$17.27 per share as recently as October 2009. The transaction is
expected to be completed during HP’s third fiscal quarter ending
July 31, 2010. The investigation concerns possible breaches of
fiduciary duty and other violations of law related to approval of
the transaction by Palm’s board of directors.
If you own shares of Palm, Inc., if you have information or
would like to learn more about these claims, or if you wish to
discuss these matters or have any questions concerning this
announcement or your rights or interests with respect to these
matters, please contact Howard G. Smith, Esquire, of Law Offices of
Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem,
Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at
(888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or
visit our website at http://www.howardsmithlaw.com.
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