11.29.10

Gemini version available ♊︎

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 in other sites/networks: These icons link to social bookmarking sites where readers can share and discover new web pages.
  • Reddit
  • email

Decor ᶃ Gemini Space

Below is a Web proxy. We recommend getting a Gemini client/browser.

Black/white/grey bullet button This post is also available in Gemini over at this address (requires a Gemini client/browser to open).

Decor ✐ Cross-references

Black/white/grey bullet button Pages that cross-reference this one, if any exist, are listed below or will be listed below over time.

Decor ▢ Respond and Discuss

Black/white/grey bullet button If you liked this post, consider subscribing to the RSS feed or join us now at the IRC channels.

DecorWhat Else is New


  1. IRC Proceedings: Thursday, January 20, 2022

    IRC logs for Thursday, January 20, 2022



  2. Gemini Lets You Control the Presentation Layer to Suit Your Own Needs

    In Gemini (or the Web as seen through Gemini clients such as Kristall) the user comes first; it's not sites/capsules that tell the user how pages are presented/rendered, as they decide only on structural/semantic aspects



  3. The Future of Techrights

    Futures are difficult to predict, but our general vision for the years ahead revolves around more community involvement and less (none or decreased) reliance on third parties, especially monopolistic corporations, mostly because they oppress the population via the network and via electronic devices



  4. [Meme] UPC for CJEU

    When you do illegal things and knowingly break the law to get started with a “legal” system you know it’ll end up in tears… or the CJEU



  5. Links 20/1/2022: 'Pluton' Pushback and Red Hat Satellite 6.10.2

    Links for the day



  6. The Web is a Corporate Misinformation/Disinformation Platform, Biased Against Communities, Facts, and Science

    Misinformation/disinformation in so-called 'news' sites is a pandemic which spreads; in the process, the founder of GNU/Linux gets defamed and GNU/Linux itself is described as the problem, not the solution to the actual problems



  7. Links 20/1/2022: McKinsey Openwashing and Stable Kernels

    Links for the day



  8. IRC Proceedings: Wednesday, January 19, 2022

    IRC logs for Wednesday, January 19, 2022



  9. Links 20/1/2022: Linuxfx 11.1 WxDesktop 11.0.3 and FreeIPMI 1.6.9 Released

    Links for the day



  10. Links 19/1/2022: XWayland 22.1 RC1 and OnlyOffice 7.0 Release

    Links for the day



  11. Links 19/1/2022: ArchLabs 2022.01.18 and KDE's 15-Minute Bug Initiative

    Links for the day



  12. When Twitter Protects Abusers and Abuse (and Twitter's Sponsors)

    Twitter is an out-of-control censorship machine and it should be treated accordingly even by those who merely "read" or "follow" Twitter accounts; Twitter is a filter, not a news/media platform or even means of communication



  13. IRC Proceedings: Tuesday, January 18, 2022

    IRC logs for Tuesday, January 18, 2022



  14. Links 19/1/2022: Wine 7.x Era Begins and Istio 1.12.2 is Out

    Links for the day



  15. Another Video IBM Does Not Want You to Watch

    It seems very much possible that IBM (or someone close to IBM) is trying to purge me from Twitter, so let’s examine what they may be trying to distract from. As we put it 2 years ago, "Watson" is a lot more offensive than those supposedly offensive words IBM is working to purge; think about those hundreds of Red Hat workers who are black and were never told about ethnic purges of blacks facilitated by IBM (their new boss).



  16. What IBM Does Not Want You to Watch

    Let's 'Streisand it'...



  17. Good News, Bad News (and Back to Normal)

    When many services are reliant on the integrity of a single, very tiny MicroSD card you're only moments away from 2 days of intensive labour (recovery, investigation, migration, and further coding); we've learned our lessons and took advantage of this incident to upgrade the operating system, double the storage space, even improve the code slightly (for compatibility with newer systems)



  18. Someone Is Very Desperate to Knock My Account Off Twitter

    Many reports against me — some successful — are putting my free speech (and factual statements) at risk



  19. Links 18/1/2022: Deepin 20.4 and Qubes OS 4.1.0 RC4

    Links for the day



  20. Links 18/1/2022: GNOME 42 Alpha and KStars 3.5.7

    Links for the day



  21. IRC Proceedings: Monday, January 17, 2022

    IRC logs for Monday, January 17, 2022



  22. Links 17/1/2022: More Microsoft-Connected FUD Against Linux as Its Share Continues to Fall

    Links for the day



  23. The GUI Challenge

    The latest article from Andy concerns the Command Line Challenge



  24. Links 17/1/2022: digiKam 7.5.0 and GhostBSD 22.01.12 Released

    Links for the day



  25. IRC Proceedings: Sunday, January 16, 2022

    IRC logs for Sunday, January 16, 2022



  26. Links 17/1/2022: postmarketOS 21.12 Service Pack 1 and Mumble 1.4 Released

    Links for the day



  27. [Meme] Gemini Space (or Geminispace): From 441 Working Capsules to 1,600 Working Capsules in Just 12 Months

    Gemini space now boasts 1,600 working capsules, a massive growth compared to last January, as we noted the other day (1,600 is now official)



  28. [Meme] European Patent Office Space

    The EPO maintains a culture of illegal surveillance, inherited from Benoît Battistelli and taken to a whole new level by António Campinos



  29. Gemini Rings (Like Webrings) and Shared Spaces in Geminspace

    Much like the Web of 20+ years ago, Gemini lets online communities — real communities (not abused tenants, groomed to be ‘monetised’ like in Facebook or Flickr) — form networks, guilds, and rings



  30. Links 16/1/2022: Latte Dock 0.11 and librest 0.9.0

    Links for the day


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

Recent Posts