Novell Shareholders Lambast $2.2B Attachmate Bid

Law360, New York (November 24, 2010, 4:06 PM EST) -- Novell Inc. shareholders are up in arms over Attachmate Corp.'s $2.2 billion takeover offer, accusing Novell's officers and directors of unlawfully inducing them to vote in favor of the “grossly inadequate” bid.

In separate lawsuits filed Tuesday in the U.S. District Court for the District of Massachusetts and the Delaware Chancery Court, the shareholders said the defendants had breached their fiduciary duties by pursuing the sale of the company at an undervalued price “through an unfair and self-serving process.”

The suits come after Attachmate on Monday...
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