EditorsAbout the SiteComes vs. MicrosoftUsing This Web SiteSite ArchivesCredibility IndexOOXMLOpenDocumentPatentsNovellNews DigestSite NewsRSS

11.29.10

Novell’s Last Week – Part VII: NOVL Goes Dark as Many Lawsuits Filed by Shareholders

Posted in Finance, Novell at 11:15 am by Dr. Roy Schestowitz

Cannon

Summary: Novell is under an investors siege for signing a bad deal with AttachMSFT

Robert Pogson has had a terrible week and news from Novell was only part of the problem. As he put it in his blog:

M$ buying Novell through a third party controlled by M$ is interesting. It is obvious that they did not buy Novell directly to avoid anti-competition considerations but it seems a smoke-screen. It will be interesting to see how ugly GNU/Linux can be made when M$ manages things. They could just shut Suse down or diversify. It will be interesting to see how they sell two products that are so different.

The “anti-competition” part should warrant a lawsuit; but with this whole AttachMSFT loophole it won’t pass muster.

Novell is practically dead as a company and it will not report its results as it promised several weeks ago. It just won’t have to face this embarrassment. The stock is still publicly traded for the time being and financial news which mentioned Novell over the past week may include (not a complete list by any means):

  1. Top Gainers of NASDAQ in Technology Sector (LVLT, IGLD, NOVL, SNDK, STEC)
  2. Stocks Fall on European Debt Jitters (AMZN, BAC, FCX, GMCR, GS, HPQ, JPM, NFLX, NOVL, XOM)
  3. FINDING A BULL MARKET AMID EURO CRISIS FEARS: NOVL, S, GMCR, CRUS, CRM, HSFT
  4. Monday Deals: Moody’s Buys CSI Global; Novell to Merge with Attachmate
  5. Mid-Day Update: Stocks Trending Lower; Ireland Remains Investor Focus Through Session’s First Half
  6. Market Alert – Top 9 Stocks to Watch
  7. Netflix, Novell pace broad tech gains
  8. US HOT STOCKS: Novell, Green Mountain, Netflix, Regeneron
  9. Citi Trends, Green Mountain, Netflix, Novell
  10. Volume Spike Detected in Shares of Novell as They Move Higher on 26.3x Above-Average Volume (NOVL)
  11. A Bailout for Ireland Weighs Heavily on Markets (yes, it mentions Novell)
  12. Rice Says Google Purchase of Groupon Is `Fantastic Idea’: Video (ditto)
  13. Irish bailout fails to prevent stocks slumping on Wall Street
  14. Nasdaq 3 Most Active Stocks (NOVL, GMCR and CRUS)
  15. Stock Gainers To Watch: NOVL, AFFY, CLDX
  16. Massey Energy’s Board Orders Review of ‘Strategic Alternatives’
  17. Apple Pulls Special SIM For iPhone 5
  18. US Stocks Drop As Worries Over Euro-Zone Debt Persist; DJIA Off 76
  19. US Stocks Sink; Financials Drop After FBI Raids Hedge Funds
  20. US STOCKS-Wall St drops on euro-zone debt worries, banks
  21. US STOCKS-Wall St drops on euro-zone debt worries, banks
  22. Top 5 Companies in the Technology Sector With the Best Relative Performance (CRUS, NOVL, VIT, SNDK, AMKR)
  23. Windows onto Microsoft’s enemies on Wall Street
  24. Most Active Stocks In Morning Session 11/22/10 (Citigroup, Novell, Bank of America, Las Vegas Sands, Cisco) by EquityMarketReport.com
  25. Stocks Fall on Irish Bailout; Tyson, M&A in Focus
  26. Bank worries drag down stocks
  27. Bye-Bye, Novell!
  28. Goldman, Tyson Foods, Novell are big movers
  29. Green Mountain Coffee And Novell Help Nasdaq Go Green
  30. Novell Jumped the Most in the S&P 500
  31. Moody’s Buys Financial Training Firm, Novell Goes Private
  32. Bank of Ireland, Dundee, Novell: U.S. Equity Movers
  33. Stock Market update: Stocks fall after fears of insider trading Wall Street FBI raid
  34. News Summary
  35. Nasdaq stocks posting largest volume increases
  36. Stocks Shed Losses to End Mixed
  37. Market Focus with Tom Hudson
  38. Thai Stocks May Snap Winning Streak
  39. Today’s Big Gainers: NOVL, REGN, TSO, HUM, OSUR, MAGS
  40. US stocks end mixed…Banks fall
  41. Weaker Opening For New Zealand Market
  42. Markets Close Lower after FBI’s Insider Trading Probe
  43. Stock Movers In Late Morning Session (SJI, Novell, APRI)
  44. Stock Movers In Late Morning Session (SJI, Novell, APRI)
  45. Percentage Losers in Review at NASDAQ Technology Sector are LTXC, VRGY, PWER, NOVL and SHOR
  46. Percentage Losers in Review at NASDAQ Technology Sector are LTXC, VRGY, PWER, NOVL and SHOR
  47. Options Brief: Novell, Inc. (NOVL)
  48. Today in Tech
  49. Business briefs: Economy to be feeble in 2011, experts predict
  50. BUYINS.NET: Market Maker Surveillance Report. HEME, XOP, IPWG, NYT, PFS, NOVL, Bullishly Biased Price Friction For Monday, November 22nd 2010
  51. Wall Street drops on euro-zone debt worries, banks
  52. Bank of Ireland, Dundee, Novell: U.S. Equity Movers
  53. CSCO, BRCD, ASTC, INTC, MU and NOVL are Most Active NASDAQ Stocks to Watch
  54. BestOfOTC.com Noticeable Active Stocks at NASDAQ: (CSCO, QQQQ, MSFT, BRCD, INTC, NOVL, ORCL)
  55. CSCO, BRCD, ASTC, INTC, MU and NOVL are Most Active NASDAQ Stocks to Watch
  56. U.S., World Stocks Fall on Korean Tension; GDP Revised Up 2.5%
  57. Hot Performers of the Day at NASDAQ – MYL, DELL, BRCD, NOVL, ARTG
  58. 7 Reasons to Worry About Next Week
  59. Nasdaq 3 Most Active Stocks (NOVL, BRCD and ORCL)
  60. Wall Street losses led by financials

Novell was mentioned a lot because of the deal with AttachMSFT. It also got sued by shareholders, from more than a single direction in fact. As one site put it, “Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of Novell, Inc. in Connection with the Proposed Acquisition of the Company by Attachmate Corporation” (there are many such investigations, not just one, e.g. from Finkelstein Thompson LLP [1, 2], Abe Shainberg, and Brodsky & Smith LLC). As Jupitermedia put it (in a blog post):

Not everyone is happy about Attachmate’s bid to acquire Novell for $2.2 billion. In fact, the deal has now attracted at least two (and likely many more to come) legal ‘investigations’ which could ultimately result in class action law suits.

One of the investigations is being led by Weiss & Lurie, a national class action and shareholder rights law firm while a second investigation is being run by Kendal Law Group, led by former federal judge Joe Kendall.

Both groups are going to examine whether or not Novell has breached its fiduciary duty with the proposed Attachmate deal, by not getting the best deal possible for Novell’s shareholders.

There should be antitrust action, not just this form action where money is the central issue. Novell’s board got filled with Microsoft-friendly people over the years, as we covered at the time it happened (multiple examples), so the sale of company assets to Microsoft is not at all shocking. It’s a fine example of entryism and market distortion.

Share this post: These icons link to social bookmarking sites where readers can share and discover new web pages.
  • Digg
  • del.icio.us
  • Reddit
  • co.mments
  • DZone
  • email
  • Google Bookmarks
  • LinkedIn
  • NewsVine
  • Print
  • Technorati
  • TwitThis
  • Facebook

If you liked this post, consider subscribing to the RSS feed or join us now at the IRC channels.

Pages that cross-reference this one

What Else is New


  1. Microsoft Keeps Pretending to be 'Open Source', Despite Relentless Assaults on Open Source

    Microsoft's charm offensives against Free/libre software are proving to be rather effective, despite them involving a gross distortion of facts and exploitation of corruptible elements in the corporate media



  2. Željko Topić and Ivan Šimonović, Two Residues of Ivo Sanader's Corrupt Regime, Seen as Indirectly Connected

    Further exploration of the remnants of Sanader's highly notorious record and those whom he had brought to power before he landed in jail



  3. Links 27/3/2015: Ubuntu 15.04 Second Beta, Dart 1.9

    Links for the day



  4. The EPO's Dutch Scandal Leaves Battistelli and His Cronies on the Run

    EPO management is making concessions and issues statements which admit defeat, allowing the staff union to continue its activities



  5. Microsoft Won't Let People Wipe (Off) Windows But Happily Wipes Android, Wipes Android Apps Through Cyanogen and Blackmailed 'Partners'

    Microsoft's obscene double-standards leave Android and Linux between a rock and a hard place



  6. Links 26/3/2015: GNOME 3.16 Officially Released

    Links for the day



  7. Links 25/3/2015: India Moving to Free Software

    Links for the day



  8. Another Reason to Boycott UEFI: Back Doors or Crackers

    UEFI makes computers more prone to infections, according to some security experts



  9. The EPO's Administrative Council is Under Increased Pressure to Rein in and to Finally Stop Benoît Battistelli

    The EPO's Administrative Council (AC) is about to have a meeting, so the Member States' delegations are urged to call for action



  10. IRC Proceedings: February 22nd - March 21st, 2015

    Many IRC logs



  11. The Latest Microsoft Attacks on GNU/Linux and Free/Libre Software

    Microsoft is still hiding behind the façade of 'love' whilst actively attacking GNU/Linux and Free software from many directions



  12. Attempts to Disrupt Android by Pushing Microsoft Software Into It (Using Patent Blackmail and Cyanogen)

    Microsoft's Android coup d'état is succeeding owing to public apathy and poor comprehension of what Microsoft really is up to, partly due to media misdirection



  13. Links 24/3/2015: WebKitGTK+ 2.8.0, Black Lab Linux 6.5

    Links for the day



  14. Concerns Over Željko Topić's Alleged Powerful Links in Croatian Diplomacy

    Rikard Frgačić explains the powerful connections acquired though Ivan Šimonović, who is himself connected to EPO Vice-President Željko Topić



  15. Benoît Battistelli's EPO Comes Under Fire From Prominent Figures Who Are Key EPO Stakeholders, Expect Battistelli to Resign 'in the Longer Term'

    The ‘reign of terror’ which is primarily attributed to Battistelli and his cronies may be about to end; the Luxembourg parliament approves the Unified Patent Court



  16. Benoît Battistelli's EPO is Under Attack From French Politicians Yet Again

    More EPO interventions -- this time from France -- target Benoît Battistelli over his abuses and take it up to Eurocrats for political actions



  17. Bribes and Extortion Help Turn Android (Linux-powered) Into 'Microsoft Android'

    A strategy involving harassment and bribes drives large Android players into Microsoft's arms (PRISM and lock-in), much to Google's (and users') detriment and beyond regulators' range of visibility



  18. Microsoft-connected Black Duck Software Created by Microsoft Marketing Man as an Anti-GPL Operation, Admits the Management

    Black Duck "was founded [on] the idea ... to keep GPL-licensed code out of corporate codebases entirely," according to a new report



  19. Links 23/3/2015: Linux 4.0 RC5, Kubuntu Celebrates Ten Years

    Links for the day



  20. Microsoft Admits Lying (or Deceiving) About the Cost of Vista 10

    After much hype in the press about Windows being 'free' it turns out that Microsoft just lied yet again, leaving that lingering perception that Windows is as inexpensive as GNU/Linux



  21. Politics of Blackmail at the EPO

    Comments serve to highlight the role of bribes (or contrariwise blackmail), as allegedly exercised by the current management of the European Patent Office



  22. Benoît Battistelli's EPO Comes Under Attack From the British

    A British MEP criticises Battistelli and the management of the European Patent Office (EPO) while Baroness Lucy Neville-Rolfe, UK Minister for Intellectual Property, gets closer to Battistelli in a tactless effort to improve relations



  23. The Royal Norwegian Department of Labour on the Right of European Patent Office (EPO) Workers to Strike

    The role of bureaucrats from Norway in defending (or not) the rights of EPO workers -- rights that the EPO's management is actively trying to deny and punish for



  24. Michael Silver Back to Acting as Gartner's Microsoft Agent, Promoting Vista 10 Based on False Promises

    Vista 10 in the headlines as its marketing propaganda zones in on false perceptions around cost, aided in part by longtime foes of GNU/Linux such as Gartner, especially its Microsoft-embedded elements (Michael Silver and co-workers)



  25. Despite Media Propaganda About Security, Microsoft Windows Remains the Least Secure Operating System, by Design

    Amid highly misleading security-centric reports that rely on Microsoft's bogus number of vulnerabilities (Microsoft already admitted hiding many of them) Techrights presents recent news about Windows 'security'



  26. Canonical Goes to Bed With Company That Sues Linux Using Software Patents and Copyrights (Through SCO)

    Despite Microsoft's continued assault on GNU/Linux, Canonical is foolish enough to give Microsoft control over many Ubuntu instances



  27. Links 22/3/2015: GNOME 3.16 Shaping Up, LibrePlanet 2015

    Links for the day



  28. Microsoft Hates Linux - Part VI - Propaganda Wars Against Free Software Facilitated While Media Control is Secured and Abused

    How Microsoft systematically lies to the public, including decision-makers and officials who can be tricked into choosing proprietary software, thinking it is in fact "open"



  29. Microsoft Hates Linux - Part V - Dumping and Surveillance to Counter GNU/Linux Insurgence

    Microsoft makes false claims about future versions of Windows (with more surveillance) becoming 'free' in order to stop migrations to GNU/Linux



  30. Microsoft Hates Linux - Part IV - Deleting, Attacking Android/Linux From Within

    Microsoft 'loves' Linux so much that it is trying to get on top of Linux and then delete Linux


CoPilotCo

RSS 64x64RSS Feed: subscribe to the RSS feed for regular updates

Home iconSite Wiki: You can improve this site by helping the extension of the site's content

Home iconSite Home: Background about the site and some key features in the front page

Chat iconIRC Channel: Come and chat with us in real time

CoPilotCo

Recent Posts