Symbol Technologies Inc.

A class action lawsuit has been filed against the bar-code scanning equipment manufacturer to halt the proposed acquisition of Symbol Technologies by Motorola Inc. Symbol agreed to be acquired by Motorola for $3.9 billion in cash, but shareholders feel the stocks are worth more. The class claims Symbol and its top executives breached their fiduciary duties by failing to maximize shareholder value in connection with the proposed transaction. They allege the proposed merger constitutes self-dealing, deception, unfair dealing, and overreaching.