Friday, October 07, 2005

Motorola sues PalmSource for "breakup fee"

"Motorola has sued PalmSource, alleging that PalmSource reneged on a buyout agreement and failed to pay an $8.7M 'breakup fee' stipulated in the agreement. PalmSource accepted Motorola's $17.25/share offer two days before agreeing to Access's $18.50/share offer, Motorola's filings in a Delaware Chancery court allege, as reported by the Chicago Sun-Times."

No comments: