August 10, 2010 |
Without its star executive, Hewlett-Packard Co. was left rudderless Monday, its stock foundering, its future uncertain and some investors questioning whether the ouster was necessary at all. Just days after the world's largest computer maker ejected Chief Executive Mark Hurd, investors and analysts began asking if the company's directors acted rashly. In his five years at the helm, Hurd had overseen a near-doubling of HP's market value to $100 billion. After plunging almost 10% — and wiping out nearly $10 billion in value — in late trading Friday, HP shares failed to regain much ground Monday as investors remained anxious about the leadership vacuum.
June 24, 2010 |
Lions Gate Entertainment, the embattled studio under siege from dissident investor Carl Icahn, has been holding merger discussions with the management of beleaguered Metro-Goldwyn-Mayer, according to people close to the situation. The talks, if successful, could result in a powerful independent studio with a library of thousands of movies and television shows that would be run by Lions Gate's management team. People with knowledge of the discussions said that Lions Gate Chief Executive Jon Feltheimer and Vice Chairman Michael Burns were pursuing a merger with MGM to fend off a takeover attempt by Icahn, who has accumulated nearly one-third of Lion Gate's stock and has threatened to wage a proxy war to gain control.
December 30, 2009 |
Broadcom Corp. said Tuesday it would pay $160.5 million to settle a securities fraud lawsuit over backdated stock options, an agreement that comes less than three weeks after a federal judge threw out related criminal cases and a government civil action. The resolution marks the third time Broadcom has agreed to pay millions of dollars to settle options-related litigation, but the company cast the development as the beginning of the end for the long-running controversy. "Today's settlement brings Broadcom closer to the day when we can put the stock-option cases behind us once and for all," said Scott McGregor, chief executive of the Irvine microchip company.
June 9, 2009 |
Oracle Corp. and Sun Microsystems Inc. have refiled their merger applications with U.S. antitrust authorities, a move that extends the deadline for the government to respond to the proposed combination. Sun said it would hold a July 16 stockholders meeting to approve the combination. Oracle, the world's second-largest software maker, announced April 20 that it would purchase Sun, a maker of server and storage computers, for $7.4 billion.
May 26, 2009 |
In the court of public opinion, Countrywide Financial Corp. co-founder Angelo Mozilo is the chief villain in the mortgage crisis that has crippled the economy. But, even with arrows in his back from politicians and pundits and an outraged public, he could still ride into the sunset mostly unscathed, several prosecutors and other legal experts say. The sheer volume and complexity of the cases against Mozilo open opportunities for shrewd legal maneuvering.
May 6, 2009 |
Spurned by the board of Emulex Corp., Broadcom Corp. said Tuesday that it would take its $764-million cash offer directly to the Costa Mesa company's shareholders through a tender offer. Irvine-based Broadcom also said it filed papers with the Securities and Exchange Commission seeking a special meeting of stockholders to repeal a "poison pill" that Emulex's board adopted in January to thwart hostile takeover attempts.