MOUNTAIN VIEW, Calif.-Handspring Inc. and Palm Inc. have entered a memorandum of understanding for a settlement with the plaintiffs in two lawsuits related to Palm’s proposed acquisition of Handspring.
The proposed settlement calls for an additional disclosure concerning the merger to be made. Handspring included that disclosure in a Form 8-K filed with the Securities and Exchange Commission today. In addition, under the settlement, the plaintiffs may seek attorneys’ fees and costs in the amount of $215,000, which Handspring will pay if granted by the court.
If the court approves the proposed settlement, and the above conditions are met, the lawsuits will be dismissed.
