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Yahoo Shareholders' Meeting: Board Defends Handling of Microsoft Negotiations; Rewrites History?

Authored by Ned Sherman on August 1, 2008 - 9:29am.

San Jose - Today Yahoo’s (YHOO) board of directors and senior executive team met with shareholders, who heard upbeat presentations from Chairman Roy Bostock, CEO Jerry Yang, President Sue Decker and CFO Blake Jorgensen, which were followed by questions from shareholders, some demanding Bostock and Yang step down.

tags: Microsoft | Yahoo | Time Warner | Carl Icahn | Shareholders | Jerry Yang |

Judge Clears Way for MySpace Lawsuit Alleging Ex-Execs and Directors of Intermix and VC Defrauded Shareholders of Billions

Authored by Ned Sherman on August 1, 2008 - 4:30am.

New York - U.S. District Court Judge George King of the Central District of California on July 15 rejected a motion to dismiss a lawsuit against the executives who sold MySpace parent Intermix to News Corp (NWS) in 2005, clearing the way for the suit to go to trial.

tags: Law | MySpace | VantagePoint | lawsuit | Shareholders | Intermix | Brad Greenspan |

Digital TV Chipmaker Tvia Says Shareholder Lawsuit Without Merit

Authored by Mark Hefflinger on October 11, 2006 - 2:19pm.
Santa Clara, Calif. - Tvia, a chipmaker for next-generation digital televisions, said on Wednesday that a shareholder class action lawsuit filed against the company, alleging violations of federal securities laws, is without merit. Filed in U.S. District Court in Northern California, the shareholder suit seeks unspecified damages for those who purchased Tvia stock between Aug. 8, 2006 and Sept. 27, 2006, and alleges the company artificially inflated the market price of its shares. Santa Clara, Calif.-based Tvia said it will seek a dismissal of all charges. The company's shares plunged 57% in late September, after it cut its second quarter outlook to revenue of $300,000 to $400,000, down from first quarter revenue of $5.1 million. Tvia attributed the lowered projections to a shortage of LCD panels and other digital TV products.
tags: Video | Law | Lawsuits | Tech | TV | Investing | Video Tech | Chips | Shareholders | Tvia |

IMAX Faces Shareholder Class Action Suit

Authored by Mark Hefflinger on August 17, 2006 - 1:24pm.
Radnor, Pa. - A shareholder class action lawsuit has been filed in U.S. District Court in New York against large-screen format movie exhibitor IMAX, which includes allegations the company reported revenue from a number of theaters before they opened, to make its finances more attractive to suitors.
tags: Video | Law | Lawsuits | Movies | Investing | Theaters | IMAX | Class Action | Shareholders | Stocks |

TouchTunes Shareholders Approve Reverse Stock Split

Authored by Mark Hefflinger on December 2, 2005 - 10:20am.
Las Vegas - TouchTunes, a manufacturer of digital music-based jukeboxes found in bars and restaurants, announced on Friday that its shareholders have approved its proposed one-to-2,000 reverse stock split, geared towards its intention to take the company private. TouchTunes shares had been trading on the Nasdaq's OTC Bulletin Board service.
tags: TouchTunes | Shareholders | Reverse Stock Split |

Shareholders of Adobe and Macromedia Approve Merger Agreement

Authored by Mark Hefflinger on August 26, 2005 - 6:32am.
San Jose, Calif. -- The shareholders of both San Jose-based Adobe Systems and San Francisco-based Macromedia, Inc. have voted to approve Adobe's proposed $3.4 billion acquisition of Macromedia. Under the acquisition agreement, shareholders of Macromedia will receive 1.38 shares of Adobe for each share of Macromedia they own. Adobe launched the takeover of Macromedia in April.
tags: Deals | Adobe | Macromedia | Shareholders | Merger Agreement |

Shareholders Approve Avid Technology Acquisition of Pinnacle Systems

Authored by Mark Hefflinger on July 28, 2005 - 7:15am.
Mountain View, Calif. -- Avid Technology, a maker of audio and video editing systems, and competitor Pinnacle Systems said that shareholders from both companies have approved Avid's acquisition of Pinnacle. In March, Avid agreed to pay $462 million in cash and stock for Pinnacle. The closing of the deal remains subject to approval by European regulators.
tags: Acquisition | Approve | Shareholders | Avid Technology | Pinnacle Systems |

META Group Shareholders Approve Acquisition by Gartner

Authored by Mark Hefflinger on March 29, 2005 - 7:53am.
Stamford, Conn. -- META Group, a provider of IT research and advisory services, announced that its shareholders have approved the proposed acquisition of the company by Gartner Inc., a technology market research firm, for $10 a share. The deal is still subject to certain other customer conditions. It is expected to close in April.
tags: Gartner | Shareholders | META Group |

Shareholders Reject Electronic Arts' Buyout Offer for "Battlefield" Developer

Authored by Mark Hefflinger on December 17, 2004 - 9:16am.
Stockholm, Sweden -- Video game publisher Electronic Arts, which last month offered to purchase Swedish "Battlefield" developer Digital Illusions CE (DICE), saw its plans stymied this week when 29% of DICE shareholders voted against the deal. The vote came despite the recommendation from DICE's board of directors to approve it; 90% must agree to the deal for it to proceed. Redwood City, Calif.-based Electronic Arts currently owns 19% of DICE, which it purchased in 2003 when it signed a 15-year publishing deal with the company. In addition to DICE's 4 million unit-selling "Battlefield" titles, it also is responsible for the "Rallisport Challenge" game franchise. The deadline for EA to reach a deal to purchase Digital Illusions is Dec. 27.
tags: Battlefield | Electronic Arts | Shareholders | Buyout Offer |

XM Satellite Radio, Shareholders Raise $530 Million in Offering

Authored by Mark Hefflinger on January 28, 2004 - 2:20am.
Washington, DC -- Giving itself a sizable cash cushion, XM Satellite Radio, the front-running provider of satellite radio in the U.S., said on Wednesday that it has closed its $530 million public offering. The company, itself, raised $185.5 million, selling 7 million shares at $26.50 each. Current shareholders sold the remainder.
tags: VC | Satellite Radio | XM | Offers | Shareholders |

Shareholders File $54 Million Lawsuit Against Vivendi Managers

Authored by Mark Hefflinger on January 16, 2004 - 3:11am.
Paris -- Local shareholders in French media and entertainment conglomerate Vivendi Universal this week filed a lawsuit against current and former Vivendi managers aiming to force them to pay $54 million for legal costs incurred in the U.S. New media reported on Friday that shareholders are seeking payment for the $50-million civil fine imposed on the company last month by the U.S. Securities and Exchange Commission (SEC). They are also asking that managers pay for the legal expenses -- totaling more than $4 million -- of former CEO Jean-Marie Messier.
tags: Vivendi | Shareholders | Managers |

Shareholders File Class Action Suits Against Game Developer Midway

Authored by Mark Hefflinger on September 29, 2003 - 9:53am.
Chicago -- A number of shareholder class action lawsuits have been filed against video game developer Midway Games, alleging the company's share price was inflated due to misleading statements made by the company. The charges include not informing shareholders of "material disruptions" at Midway that made the company miss product release dates, which led to decreased revenue and inaccurate revenue projections being provided to shareholders. Chicago-based Midway reported earnings of $5 million for the third quarter, far below its earlier projections of between $7-$11 million, and at the same time announced the departure of CEO Neil D. Nicastro -- two events that resulted in a considerable drop in the company's share price.
tags: Games | Midway | Shareholders | Files |