Scientific-Atlanta Sued Over Cisco Deal
A Reuters newswire article, via CNN/Money, reports that:
Cable television set-top box maker Scientific-Atlanta Inc. on Wednesday said it and its directors have been named in two lawsuits related to its $6.9 billion agreement to be bought by Cisco Systems Inc.
The complaints, which accuse Scientific-Atlanta and its directors of breaching their duties to shareholders in agreeing to an "inadequate price" for the sale, are "without merit," the company said. The lawsuits were filed on Tuesday and Wednesday in the State Court of Fulton County, Georgia, Scientific-Atlanta spokesman Tom Robey said.
posted by Fergie @ 11/25/2005 09:46:00 AM
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