Google Faces Suit Over On2 Purchase
Submitted: August 13, 2009 - 7:29am
Last updated: August 13, 2009 - 7:30am
Last updated: August 13, 2009 - 7:30am
Source:
Wall Street Journal
Author:
Scott Morrison
Google's acquisition of video compression software maker On2 Technologies Inc. has been challenged in court by On2 shareholders who claim the deal's $106.5 million price tag is "unfair." The complaint, filed in Delaware Court of Chancery on Monday, seeks class action status and a permanent injunction blocking the deal. The plaintiffs also demand that the defendants, which include On2's board as well as Google, account for all damages caused. On2 produces software that makes high-definition video playback possible on mobile devices
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