Linked by Thom Holwerda on Fri 8th May 2009 22:10 UTC
Oracle and SUN Sun Microsystems shareholders have filed three separate class action lawsuits to block a $7.4 billion acquisition by Oracle, the company revealed in a 10-Q filing with the Securities and Exchange Commission. The lawsuits allege Sun's board didn't live up to its fiduciary responsibilities to shareholders when it accepted Oracle's acquisition offer, saying "the consideration offered in the proposed transaction is unfair and inadequate."
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bousozoku
Member since:
2006-01-23

Sometimes, I wonder how greedy people are.

If choosing US$0.33 or US$0.00, people will often take a course of action that leads to zero.

How many times do workers strike for higher benefits or job security only to find that they no longer have jobs because of their own actions?

Of course, the union wins, and in this case, the lawyers will win but the company will likely go away and the shareholders will be left empty-handed.

Reply Score: 3

Jon Dough Member since:
2005-11-30

Of course, the union wins.


Any union is all about what's best for union management, and cares nothing about what might be best for the rank and file.

Reply Parent Score: 3

tylerdurden Member since:
2009-03-17

Yeah, let's blame unions for something which they have nothing to do with. These are a few shareholders, most IT workers are not unionized.

Yeah, Unions are to blame for everything... from global warming to the actions of a few shareholders. WTF?

Reply Parent Score: 2