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Mergers & acquisitions

CoSine Deal Challenged in Court

Just when it looked as if the future of troubled CoSine Communications Inc. (Nasdaq: COSN) had finally been resolved, a legal wrench may be thrown into the works.

Just over three weeks ago Tut Systems Inc. (Nasdaq: TUTS) ended months of speculation over the fate of CoSine when it stumped up $24.1 million for the struggling switch vendor (see Tut Takes On CoSine and Will CoSine Get Carved Up?).

But in a recent filing with the Securities and Exchange Commission (SEC) CoSine revealed that, on January 18, a complaint entitled Senior v CoSine Communications Inc., et al., was filed in San Mateo County Superior Court in California. The complaint requested that the acquisition be “enjoined” due to alleged self-dealing and breach of fiduciary duties by CoSine’s officers and directors.

Get the details at NDCF.

— James Rogers, Site Editor, Next-Gen Data Center Forum

alcaseltzer 12/5/2012 | 3:28:08 AM
re: CoSine Deal Challenged in Court and who is paul senior?
Upside_again 12/5/2012 | 3:28:05 AM
re: CoSine Deal Challenged in Court R.I.P, This company and thier single leading marketplace is done. Thier best and only position went down in flames. Nobody left. It's clear thier customers are long-gone or fed-up. The door has been shut.

Move on and write on something that is exciting.
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