Shareholders are investigating possible breaches of fiduciary duty and other corporate violations by the board of directors of Palm, Inc. (NASDAQ: PALM). The investigation arises from Palm’s entering into a merger agreement with Hewlett-Packard Company.
Under the transaction’s terms, Palm shareholders will receive $5.70 in cash for each share of Palm common stock they own. Palm and HP expect to close the merger at the end of July 2010. Shareholders are investigating potential breaches of fiduciary duty and other law violations concerning the transaction’s approval by Palm’s board of directors, and in particular whether Palm’s board undertook a fair process to achieve valuable consideration for Palm’s public shareholders.
If you are a Palm shareholder and would like to speak with us, desire information concerning your rights as a Palm shareholder, or are interested in participating in litigation concerning the Palm merger and takeover, please call us at 1-877-573-0007.