This lawsuit may well be just a nuisance suit. Seagate and Veritas could care less about a few million dollars at this point. They could settle it for, say, $200 million, and not even miss since, since this is just money that would be returned in one form or another to shareholders anyway, and they have basically given little no evidence of caring much about shareholders interests. So the lawsuit may have been filed by opportunistic lawyers who believe that, and who see a way to jiggle of little of that cash their way rather quickly, as I'm pretty sure that if there is any merit at all to this claim (and their may well not be), even just the tiniest bit, they would rather avoid having it hang over their head,and would rather avoid having to pay legal fees out of the $800m that they will be taking after the take-under. If they settle now, they pay with money that would go back to stockholders (or to Veritas, if they choose to issue stock intead of cash).
So that's my guess--it's plausibly a bogus suit, but it may well be settled w/o admission of guilt anyway. |
