Apple & LG Electronics Sued By Alcatel, Amazon Issues Debt: Tech Business Roundup
On Tuesday in San Francisco, Hewlett-Packard Co. (NYSE:HPQ) was sued in federal court by a shareholder who claims that it hid that it had obtained control of the British software maker Autonomy Corp., based on financial statements that were in fact unreliable due to accounting manipulation, and then issued false and misleading statements.
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Apple (NASDAQ:AAPL) and LG Electronics (LGEAF.PK) are being sued by an Alcatel-Lucent (NYSE:ALU) division which claims that they infringed patents for electronic devices which include phones and computers. The jury trial commences Tuesday in San Diego. The allegations originated from a lawsuit in 2010 by Alcatel’s Multimedia Patent Trust which accused Apple and LG Electronics of copying video-compression tech that permits data to be sent more efficiently via communications media, including satellites and the Internet, along with being stored on DVDs and Blu-Ray disks.
The world’s biggest online retailer, Amazon.com (NASDAQ:AMZN), has issued $3 billion of debt to help fund the purchase of its Seattle headquarters, marking its first bond offering in more than ten years. Proceeds will be used for general corporate purposes along with the $1.16 billion real-estate transaction, says Moody’s Investors Service, which rated the bonds Baa1. However, Standard & Poor’s rated the debt at AA-.
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