Tripp Levy PLLC Investigates Proposed Acquisition of Palm, Inc.

Tripp Levy PLLC announces an investigation into the proposed acquisition of Palm, Inc. (NASDAQ: PALM). On April 28, 2010, Hewlett-Packard Company (“HP”) announced that it is proposing to acquire the outstanding shares of common stock of Palm for $5.70 per share in cash.

However, pursuant to this proposed transaction, HP may be underpaying for Palm, thus unlawfully harming Palm shareholders. In addition, Elevation Partners, who collectively own 30% of Palm’s outstanding shares, are voting in favor of the acquisition.

The investigation concerns, among other things, whether the consideration to be paid to Palm shareholders is grossly unfair, inadequate, and substantially below the fair or inherent value of Palm. The investigation further concerns whether the directors of Palm may have breached their fiduciary duties by not acting in Palm shareholders' best interests.

If you own Palm common stock and you wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:

Palm (MM) (NASDAQ:PALM)
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