Merger In Sight, EDS And HP Settle 5 Investor Suits

Law360, New York (July 29, 2008, 12:00 AM EDT) -- Hewlett-Packard Co. and Electronic Data Systems Corp. have settled five purported class actions with investors who claimed HP's proposed $13.9 billion acquisition of EDS unfairly compensated the technology company's shareholders, according to a filing Monday with the U.S. Securities and Exchange Commission.

After agreeing to the acquisition with HP on May 13, 2008, EDS was hit with a slew of shareholder suits accusing its directors of breach of fiduciary duty for agreeing to HP’s acquisition price of $25 per share.

Four putative class actions were filed...
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