Wednesday, October 22nd9.3°C
23711
23129

Shareholder lawsuit challenges Dell

A lawsuit challenging plans to take troubled personal computer maker Dell Inc. private is being filed in Delaware.

The lawsuit filed Wednesday claims that company founder Michael Dell and a group led by investment firm Silver Lake are trying to buy the Round Rock, Texas-based computer maker on the cheap for $24.4 billion, or $13.65 per share.

The lawsuit was filed one day after the management-led leveraged buyout was announced.

It accuses Michael Dell and company directors of breaching their fiduciary duties by failing to maximize shareholder value and selling the company at an inadequate price at the expense of minority shareholders.

Anticipating resistance to the deal from stockholders, Dell's board has said other potential buyers will have 45 days for to submit higher bids.

The Canadian Press


Read more Business News

22831


Recent Trending




Today's Market
S&P TSX14312.07-235.64
S&P CDNX808.00-14.28
DJIA16461.32-153.49
Nasdaq4382.847-36.632
S&P 5001927.11-14.17
CDN Dollar0.8883-0.0012
Gold1242.30-3.20
Oil80.07-0.06
Lumber330.40+1.70
Natural Gas3.647-0.012

 
Okanagan Companies
Pacific Safety0.12+0.02
Knighthawk0.01-0.005
QHR Technologies Inc1.15-0.02
Cantex0.055-0.025
Anavex Life Sciences0.198+0.006
Metalex Ventures0.05+0.005
Russel Metals32.53-0.56
Copper Mountain Mining2.10-0.07
Colorado Resources0.145-0.005
ReliaBrand Inc0.013+0.001
Sunrise Resources Ltd0.05-0.01
Mission Ready Services0.405-0.055

 



23833

FEATURED Property
2089306374-Kildare
3 bedrooms 2 baths
$299,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Keep it rubber side down

This time of year, I always worry about which friends of mine will get caught going off the road in adverse weather conditions. With a little preparation most accidents can be avoided. Having won the...


Big bank predicts rate hike

Photo: Thinkstock.comThe end of record-low rates is nigh, according to one major bank, which has taken a stance and predicted when the Bank of Canada will raise its long-standing overnight rate. &ldq...


Experts share strategies in Kelowna

The third week in October is “Small Business Week”, a week dedicated to supporting local, small businesses. The week was designed to bring awareness to Canadians about the role small busin...

_








Member of BC Press Council


23091