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. Goodbye Halo, Hello Revisionism (or How Patent Profiteers Perfume a Terrible SCOTUS Decision That Helps Patent Trolls)

    A short review/overview of this past week's coverage regarding Halo (the Halo v Pulse case) -- a SCOTUS decision that will help patent trolls in the United States



  2. Realistic English Translation of EPO Announcement About Crushing of Patent Quality

    The EPO's statement which proves Eric Blair (George Orwell) right, carefully rewritten to better explain what Battistelli and his cronies have just done to bring the EPO's status to an all-time low



  3. Great News: The US Supreme Court Shoots Down Software Patents Again

    The outcome of the US Supreme Court refusing to intervene in the Sequenom v Ariosa case -- a case which would have put at risk the strongly-worded Alice and Mayo decisions (SCOTUS level)



  4. No Expectation of the US Patent System Getting Fixed Any Time Soon

    On the agenda of the supposedly 'liberal' side (hawkish and corporatist in practice) there's no reason for Hope of Change and new data suggests that patent practices are gradually ebbing away in the United States



  5. A System in Their Back Pockets: Protecting Large Corporations in High-Profile Patent Cases

    A couple of new examples of patent cases where the bigger company (with deeper pockets) wins, either by injunctions against small companies or by invalidating the patents of smaller companies



  6. The European Patent Organisation's Administrative Council Helps Benoît Battistelli Destroy Patent Quality for the Sake of 'Production'

    In secretive sessions behind closed doors Battistelli and the Administrative Council conspired to send the no-longer-independent boards of appeal to exile, assuring that patent quality will nosedive and make the Office akin to a registration/filing office



  7. At the European Patent Organisation the Administrative Council Does Not Care About Staff

    The Administrative Council (AC) of the European Patent Organisation continues to show carelessness and apathy if not complicity by maintaining a deeply heartless approach and blind support for a President with 0% approval ratings (among polled staff)



  8. Links 1/7/2016: Enlightenment 0.21.0, Peppermint 7, New Mint

    Links for the day



  9. EPO Leak: Administrative Council's Latest Meeting Report (Updated)

    The outcome of the Administrative Council's meeting, where Battistelli managed to avoid earthquakes and basically did just about everything he wanted, reinforcing the perception that there is no oversight



  10. Publicly-Available Information About the Meeting of the EPO's Administrative Council

    The EPO "crisis" -- as Board 28 called it -- lingers on because no substantial steps were taken towards Battistelli's removal from Office for his violation of Office rules (his own rules) among other laws that Eponia perceives itself as exempt from



  11. Battistelli's Last Moves Are Desperate Attempts to Crush the Messenger (SUEPO), Which Will Almost Certainly Backfire on (if Not Fire) Battistelli

    By implicitly declaring a war on those who speak truth to power or those who are associated with perceived truth-tellers, Battistelli reinforces the perception that he is protecting the bad people at all cost (even his very own career)



  12. EPO Staff Representative Jesus Areso Explains the Crisis to the Administrative Council

    An intervention by an EPO Central Staff Committee (CSC) member who is under gag orders from Battistelli's regime and cannot speak about his case, which apparently involves truly severe disciplinary actions for merely helping or contributing to a staff survey (not controlled by and paid for by Battistelli)



  13. Shadows of Alleged Criminality Over the European Patent Office (EPO)

    Cases against Željko Topić, a Vice-President at the European Patent Office, are moving forward in Croatia, where he still faces many criminal charges



  14. You Know That UPC is Quite Likely Dead (at Least in the UK) When Even Baroness Neville-Rolfe Dodges the Question (Updated)

    The UPC appears to be a dead end, much like Battistelli's career, not only in the UK but in Europe as a whole (it has been all along designed with London/England/UK in mind)



  15. Short Report From Today's EPO Protest in Munich

    A few noteworthy points about the staff protest which coincided with the Administrative Council's meeting earlier today in Munich



  16. Growing Consensus Even Among Patent Professionals That UPC is Dying Everywhere If Not Just in the UK

    The UPC continues to sink as more and more people come to grips with the complexity of the current situation, irrespective of what countries other than the UK do next



  17. Battistelli Attacks Not Only His Staff But Also Patents Themselves (Their Quality) and the Legal Legitimacy Surrounding the EPO

    Battistelli's EPO is having not only reputation problems but also staff retention problems, patent quality problems and problems pertaining to perception of fair trials or justice regarding patents



  18. Battistelli is Creating an Atmosphere of Terror at the EPO While Exploiting Terror Attacks to Garner Sympathy

    "As if Laurent were a terrorist, the Office has imposed a house arrest and has forbidden him to enter the EPO premises," according to SUEPO, writing about one of its members at The Hague who is "maliciously accused via a fabricated procedure"



  19. Rumours That EPO President Battistelli Got Sacked to be Replaced by Christoph Ernst Appear to be Baseless

    Dr. Christoph Ernst is claimed to be the successor (interim or permanent) of the notorious Battistelli, but these claims have little or no evidence to support them



  20. Links 29/6/2016: SteamOS 2.83 Beta, Alpine Linux 3.4.1

    Links for the day



  21. The EPO Has Become Battistelli's Circus and the Administrative Council Has Been Reduced to (Illegal) Circus Animals Controlled With 'Treats'

    Battistelli's attack on justice and on the rule of law is debated among insiders who have grown increasingly impatient with the Administrative Council's tolerance of Battistelli and sometimes even Kongstad's amazing complicity



  22. The Latest Lies About the Unitary Patent (UPC) Would Have Us Believe That It's Alive and Well

    How patents-centric sites (some of which are in bed with the EPO) have responded to the 'Brexit' vote and why they're not telling us the truth about the Unitary Patent scam (often created and promoted by the same people who run and/or fund such sites)



  23. EPO Management Bunker: “The Bailiff Who Came to Deliver the Subpoena was Escorted off the Property by Five Security Guards.”

    Battistelli has essentially turned the European Patent Office (EPO) into a barracks, where he continues to enjoy immunity from the rule of law and discourages those who wish to challenge this immunity



  24. Keeping the Guard and Securing Society From Software Patents

    The policies over which Indians and Europeans have kept guard are being 'stolen' by vested interests



  25. Benoît Battistelli Further Weaponises His EPO 'Stasi' With CA/52/16

    A glimpse at what Benoît Battistelli will shortly attempt to do to the EPO, in order to cement his power in the face of growing opposition from many directions



  26. EPO Caricature: Administrative Council Control of Benoît Battistelli

    Another new caricature regarding the President of the European Patent Office (EPO) and lack of effective oversight from the Administrative Council (European Patent Organisation)



  27. EPO Caricature: Firing Benoît Battistelli

    The latest caricature regarding the President of the European Patent Office (EPO)



  28. Links 28/6/2016: Red Hat Summit 2016, Hadoop Events

    Links for the day



  29. Today's Media Coverage Says Microsoft Loves Linux, But Today Microsoft Extorted Linux Using Software Patents Again

    Luna Mobile has just been extorted by Microsoft (using dubious software patents, as usual) for using Android/Linux, but Microsoft-influenced media carries on spreading the lie that "Microsoft loves Linux"



  30. New Efforts to Work Around Barriers to UPC in Light of 'Brexit'; Behind These Efforts Are Self-Serving Patent Profiteers

    look at who's trying to work around the latest barriers to the widely-unwanted (by the public) Unitary Patent regime and what is being planned behind the scenes, or behind closed doors (by and for those who stand to profit from the Unitary Patent regime)


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