SAN DIEGO--(BUSINESS WIRE)--Robbins Umeda LLP has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by members of the Board of Directors of Palm, Inc. ("Palm") (NASDAQ: PALM) in connection with their actions in causing Palm to enter into a definitive agreement with Hewlett-Packard Company ("HP") (NYSE: HPQ). If the transaction is completed, Palm shareholders will receive $5.70 in cash for each share of Palm they own. The companies expect the merger to close in HP's third fiscal quarter ending July 31, 2010.
Robbins Umeda LLP's investigation concerns whether Palm's Board of Directors undertook a fair process to obtain fair consideration for all shareholders of Palm.
If you are a shareholder of Palm and would like more information about your rights as a shareholder, please contact attorney Lauren Levi at 800-350-6003 or by e-mail at firstname.lastname@example.org.
Robbins Umeda LLP is a California-based law firm with significant experience representing investors in merger-related shareholder class actions, shareholder derivative actions, and securities fraud class actions. For more information about the firm, please go to http://www.robbinsumeda.com.