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. Links 28/3/2017: Linux 4.11-rc4 Kernel Released, Red Hat Surge on Sales

    Links for the day



  2. The Crook Goes to Brussels to Lie About the Unitary Patent (UPC)

    The person who spent years lying about the UPC and severely attacking critics (usually by blatantly lying about them) goes to Brussels for another nose extension



  3. The EPO's HR Roadmap Retrospective

    A look back at the terrible ‘accomplishments’ of the Jesper Kongstad-led Administrative Council, which still issues hogwash and face-saving lies, as one might expect from a protector of Battistelli that lies to national representatives and buries inconvenient topics



  4. Links 26/3/2017: Debian Project Leader Elections, SecureDrop and Alexandre Oliva FSF Winners

    Links for the day



  5. His Master's Voice, Jesper Kongstad, Blocks Discussion of Investigative and Disciplinary Procedures at the EPO

    The Chairman of the Administrative Council of the European Patent Organisation is actively preventing not just the dismissal of Battistelli but also discussion of Battistelli's abuses



  6. Heiko Maas and the State of Germany Viewed as Increasingly Complicit in EPO Scandals and Toxic UPC Agenda

    It is becoming hard if not impossible to interpret silence and inaction from Maas as a form of endorsement for everything the EPO has been doing, with the German delegates displaying more of that apathy which in itself constitutes a form of complicity



  7. With IP Kat Coverage of EPO Scandals Coming to an End (Officially), Techrights and The Register Remain to Cover New Developments

    One final post about the end of Merpel’s EPO coverage, which is unfortunate but understandable given the EPO’s track record attacking the media, including blogs like IP Kat, sites of patent stakeholders, and even so-called media partners



  8. Everyone, Including Patent Law Firms, Will Suffer From the Demise of the EPO

    Concerns about quality of patents granted by the EPO (EPs) are publicly raised by industry/EPO insiders, albeit in an anonymous fashion



  9. Yes, Battistelli's Ban on EPO Strikes (or Severe Limitation Thereof) is a Violation of Human Rights

    Battistelli has curtailed even the right to strike, yet anonymous cowards attempt to blame the staff (as in patent examiners) for not going out of their way to engage in 'unauthorised' strikes (entailing dismissal)



  10. Even the EPO's Administrative Council No Longer Trusts Its Chairman, Battistelli's 'Chinchilla' Jesper Kongstad

    Kongstad's protection of Battistelli, whom he is supposed to oversee, stretches to the point where national representatives (delegates) are being misinformed



  11. Thanks to Merpel, the World Knows EPO Scandals a Lot Better, But It's a Shame That IP Kat Helped UPC

    A look back at Merpel's final post about EPO scandals and the looming threat of the UPC, which UPC opportunists such as Bristows LLP still try hard to make a reality, exploiting bogus (hastily-granted) patents for endless litigation all around Europe



  12. EPO Critics Threatened by Self-Censorship, Comment Censorship, and a Growing Threat to Anonymity

    Putting in perspective the campaign for justice at the EPO, which to a large degree relies on whistleblowers and thus depends a great deal on freedom of the press, freedom of speech, and anonymity



  13. Links 25/3/2017: Maru OS 0.4, C++17 Complete

    Links for the day



  14. Judge and Justice Bashing in the United States, EPC Bashing at the EPO

    Enforcement of the law based on constitutional grounds and based on the European Patent Convention (EPC) in an age of retribution and insults -- sometimes even libel -- against judges



  15. Looking for EPO Nepotism? Forget About Jouve and Look Closely at Europatis Instead.

    Debates about the contract of Jouve with the EPO overlook the elephants in the room, which include companies that are established and run by former EPO chiefs and enjoy a relationship with the EPO



  16. Depressing EPO News: Attacks on Staff, Attacks on Life, Brain Drain, Patents on Life, Patent Trolls Come to Germany, and Spain Being Misled

    A roundup of the latest developments at the EPO combined with feedback from insiders, who are not tolerating their misguided and increasingly abusive management



  17. It Certainly Looks Like Microsoft is Already Siccing Its Patent Trolls, Including Intellectual Ventures, on Companies That Use Linux (Until They Pay 'Protection' Money)

    News about Intellectual Ventures and Finjan Holdings (Microsoft-funded patent trolls) reinforces our allegations -- not mere suspicions anymore -- that Microsoft would 'punish' companies that are not paying subscription fees (hosting) or royalties (patent tax) to Microsoft and are thus in some sense 'indebted' to Microsoft



  18. Links 24/3/2017: Microsoft Aggression, Eudyptula Challenge Status Report

    Links for the day



  19. Bernhard Rapkay, Former MEP and Rapporteur on Unitary Patent, Shoots Down UPC Hopes While UPC Hopefuls Recognise That Spain Isn't Interested Either

    Germany, the UK and Spain remain massive barriers to the UPC -- all this in spite of misleading reports and fake news which attempted to make politicians believe otherwise (for political leverage, by means of dirty lobbying contingent upon misinformation)



  20. Links 23/3/2017: Qt 5.9 Beta, Gluster Storage 3.2

    Links for the day



  21. The Administrative Council of the European Patent Organisation Has Just Buried an Innocent Judge That Battistelli Does Not Like

    An innocent judge (never proven guilty of anything, only publicly defamed with help from Team Battistelli and dubious 'intelligence' gathering) is one of the forgotten casualties of the latest meeting of the Administrative Council (AC), which has become growingly complicit rather than a mere bystander at a 'crime' scene



  22. Nepotism at the European Patent Office and Suspicious Absence of Tenders for Big Projects

    Carte blanche is a French term which now perfectly describes the symptoms encountered in the European Patent Office, more so once led by a lot of French people (Battistelli and his friends)



  23. “Terror” Patent Office Bemoans Terror, Spreads Lies

    Response to some of the latest utterances from the European Patent Office, where patently untruthful claims have rapidly become the norm



  24. China Seems to be Using Patents to Push Foreign Companies Out of China, in the Same Way It Infamously Uses Censorship

    Chinese patent policies are harming competition from abroad, e.g. Japan and the US, and US patent policy is being shaped by its higher courts, albeit not yet effectively combating the element that's destroying productive companies (besieged by patent trolls)



  25. 22,000 Blog Posts

    A special number is reached again, marking another milestone for the site



  26. The EPO is Lying to Its Own Staff About ILO and Endless (Over 2 Years) EPO Mistrials

    The creative writing skills of some spinners who work for Battistelli would have staff believe that all is fine and dandy at the EPO and ILO is dealing effectively with staff complaints about the EPO (even if several years too late)



  27. EPO’s Georg Weber Continues Horrifying Trend of EPO Promoting Software Patents in Defiance of Directive, EPC, and Common Sense

    The EPO's promotion of software patents, even out in the open, is an insult to the notion that the EPO is adhering to or is bound by the rules upon which it maintains its conditional monopoly



  28. Protectionism v Sharing: How the US Supreme Court Decides Patent Cases

    As the US Supreme Court (SCOTUS) starts delivering some decisions we take stock of what's to come regarding patents



  29. Links 22/3/2017: GNOME 3.24, Wine-Staging 2.4 Released

    Links for the day



  30. The Battistelli Regime, With Its Endless Scandals, Threatens to Crash the Unitary Patent (UPC), Stakeholders Concerned

    The disdain and the growing impatience have become a huge liability not just to Battistelli but to the European Patent Office (EPO) as a whole


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