On or around 01/03/2011 (Stipulation and order of dismissal (voluntary dismissal))
Filing Date: September 22, 2010
According to the complaint filed on September 24, 2010, despite the successful implementation of their new strategy under the leadership of the President and Chief Executive Officer of Phoenix and the Company's promise and poise for growth, the Company agreed to enter into the Proposed Transaction with Marlin Equity Partners.
Given the Company's recent performance and future prospects, the consideration shareholders are to receive is inadequate. Accordingly, Marlin is picking up Phoenix Technologies at the most opportune time, at a time when Phoenix Technologies is poised for growth and its stock price is trading at a huge discount to its intrinsic value.
On December 29, 2011, the parties filed a Stipulation and Proposed Order for Dismissal Without Prejudice. The case was dismissed without prejudice by the Order signed by Judge Claudia Wilken on January 3, 2011.
Company & Securities Information
Defendant: Phoenix Technologies Ltd.
Industry: Software & Programming
Headquarters: United States
Ticker Symbol: PTEC
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
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