Corporate legal scrambles to withdraw inflated Palm Pre claims - AppleInsider
Tue, Mar 10th, 2009
After Palm investor Roger McNamee of Elevation Partners made wildly optimistic claims about the forthcoming Palm Pre, attorneys at Palm and Elevation Partners issued a free writing prospectus 'clarifying' facts that were misstated and 'withdrawing' his more exaggerated claims.
McNamee is the managing director and co-founder of Elevation Partners, a private equity firm that invests in intellectual property and media and entertainment companies. The firm is also associated with U2 pop singer Bono (taking its name from a U2 song) and hired Apple's former CFO Fred Anderson after he left following the SEC's investigation into options backdating.
Read the whole story on AppleInsider or try our Toolbar
Related stories from top sites:
- Palm: Pay No Attention To What Our Wacky Investor Says On TV!
- Palm: Put a Sock In It, McNamee.
- While Apple and Palm fight, U2 sides with … RIM
- Fanbois will abandon iPhone for Palm, says Wikisugardaddy
- Palm Investor McNamee: Early Adopters Will Flock to Pre
- Palm investor puts his mouth where his money is
- WriteSpace Turns Word Into a Distraction-Free Editor
- Palm: You Thought Q2 Was Bad? Get a Load of Q3
Related tweets from Twitter:
- mikebluestein: funny that blackberry sponsors u2. isn't bono an investor in palm pre? ...and all the itunes commercials as well.Sun, Sep 20th, 2009 6:25 PM EDT· Reply · View Tweet
KarlV: Palm should really change their set of colors on their Investor Page. White text on Light Blue background. Very hard to read.Fri, Sep 18th, 2009 9:31 PM EDT· Reply · View Tweet- hankito: You know, I remember some idiot investor in Palm that said how Pre was going to replace all the iphone users, The Pre is dying as we speak.Fri, Sep 18th, 2009 12:09 PM EDT· Reply · View Tweet
Related stories from Digg:
Palm Pre beats expectations, drops WiMo to focus on WebOS
Palm announced smaller than expected losses on sales of the Pre, but its outlook failed to excite investors. Going forward, the company plans to raise new capital and bet the farm on WebOS, dumping both its older Palm OS and Microsoft's Windows Mobile.(Tech Industry News)spudsstuffFri, Sep 18th, 20093 Diggs, 0 CommentsPalm's CEO on the Pre, the Pixi and Apple's sense of taste
A year ago, Palm didn't seem poised for the comeback it's now making. Palm's investors, including Elevation Partners, hope Jon Rubinstein's sense of taste will translate into sales as Palm approaches its earnings report. Palm's Pre device was met with critical applause, and its forthcoming Pixi phone represents another evolutionary leap.(Gadgets)
AmyVernonMon, Sep 14th, 2009177 Diggs, 9 CommentsSales of Palm Pre have slowed, could drag down company
In a note to investors, Morgan Joseph analysts Ilya Grozovsky and James Moore downgraded their rating on Palm from Hold to Sell because they believe sales of the latest smartphone has slowed significantly and will miss projections for the quarter ending August 31. (Tech Industry News)5ftdynamiteFri, Aug 14th, 20091 Diggs, 0 Comments