Linux.com

Home News Business of Open Source Legal WebOS Betrayal Costs HP $57 Million in Class Action Settlement

WebOS Betrayal Costs HP $57 Million in Class Action Settlement

It may have been overshadowed by pricier acquisition deals in subsequent years, but HP's 2010 takeover of Palm remains a milestone event. It was a seemingly perfect combination of a highly competitive mobile operating system with a deep-pocketed hardware juggernaut. HP promised it would fund the future development of webOS and support it with a broad ecosystem of devices. Only a year later, however, the company reversed course and abandoned its touted plans, to the chagrin of hard-hit shareholders.

class action lawsuit filed in the wake of that decision has now been settled by HP at the cost of $57 million. The plaintiffs are primarily pension funds and other institutional investors, whose anger stems from the dissonance between...

Continue reading…

Read more at The Verge
 

Comments

Subscribe to Comments Feed

Who we are ?

The Linux Foundation is a non-profit consortium dedicated to the growth of Linux.

More About the foundation...

Frequent Questions

Join / Linux Training / Board