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.
