Next Level Sues Motorola, Calls Bid Inadequate
Apparently Next Level thinks they're getting shafted by their majority shareholder and would-be owner, Motorola. Today Next Level filed a lawsuit against Motorola, saying the company "coerced" shareholders into accepting an inadequate takeover offer - a result of Motorola having more information about the company's prospects than most shareholders. They also urged shareholders to reject the offer. Of course, Motorola already owns 74% of the company. This sounds like it's just a push to get a little bit more cash out of Motorola.
Thank you for reading this Techdirt post. With so many things competing for everyone’s attention these days, we really appreciate you giving us your time. We work hard every day to put quality content out there for our community.
Techdirt is one of the few remaining truly independent media outlets. We do not have a giant corporation behind us, and we rely heavily on our community to support us, in an age when advertisers are increasingly uninterested in sponsoring small, independent sites — especially a site like ours that is unwilling to pull punches in its reporting and analysis.
While other websites have resorted to paywalls, registration requirements, and increasingly annoying/intrusive advertising, we have always kept Techdirt open and available to anyone. But in order to continue doing so, we need your support. We offer a variety of ways for our readers to support us, from direct donations to special subscriptions and cool merchandise — and every little bit helps. Thank you.
–The Techdirt Team
