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IT Management Linux News for Jan 15, 2001

  • Three more class-action lawsuits filed against VA Linux (Jan 15, 2001, 19:50)
    "The complaint charges [VA Linux] and certain of its officers and directors with violations of the federal securities laws. On December 9, 1999, Linux completed an initial public offering of 4.4 million of its shares of common stock at an offering price of $30 per share (the ``Linux IPO''). In connection therewith, Linux filed a registration statement, which incorporated a prospectus (the ``Prospectus''), with the SEC. The complaint further alleges that the Prospectus was materially false and misleading because it failed to disclose, among other things, that: (i) Credit Suisse had solicited and received excessive and undisclosed commissions from certain investors in exchange for which Credit Suisse allocated to those investors material portions of the restricted number of Linux shares issued in connection with the Linux IPO; and (ii) Credit Suisse had entered into agreements with customers whereby Credit Suisse agreed to allocate Linux shares to those customers in the Linux IPO in exchange for which the customers agreed to purchase additional Linux shares in the aftermarket at pre-determined prices. As alleged in the complaint, the SEC is investigating underwriting practices in connection with several other initial public offerings, including the Linux offering and the offerings of Ariba Inc. and United Parcel Service, Inc."

  • CNET Ken Starr speaks out on Microsoft (Jan 15, 2001, 18:10)
    "I am fully satisfied, and I think most reasonable observers are, that Microsoft enjoys a monopoly in the operating systems market and that is the appropriate market under the law. I am further satisfied, based on the evidence at trial and the judge's very carefully articulated, very comprehensive findings of fact that Microsoft abused that monopoly power. That is, as Judge Bork has been saying all along, is the core of this case, the abuse of monopoly power so as to destroy budding competition and that most dramatically is demonstrated in the Netscape story."