Dark Star
Cyborg Agent
*www.imgx.org/files/18981_qlbby/xandros_logo.png *www.imgx.org/files/3418_4jmmd/linspirelogouj3.png
In an announcement that was sent out today, June 30, to Linspire stockholders, CEO Larry Kettler wrote that the stockholders had decided to sell all of Linspire’s assets. This deal specifically includes Linspire, Freespire, and the company’s distribution agnostic CNR (Click ‘N Run) desktop installation platform.
*www.imgx.org/files/18982_5xjgd/notice.jpg
In classic Michael Robertson form, he has once again completely disregarded the 100 some-odd shareholders of Linspire by pulling off this deal without a shareholder meeting. Most states require shareholder approval of any merger or reorganization of a corporation, or the sale or transfer of all or substantially all of the corporation's assets. Regardless of state laws, common decency would dictate that even if a company only has 1 minority shareholder, there should be a shareholder meeting and the acquisition explained to all shareholders. What do Linspire shareholders get in place of a shareholder meeting? This completely worthless notice in the mail.
Source : Kevin Carmony's Blog: Xandros Acquires Linspire Assets in Seceret Backroom Deal