Juniper Networks Inc., bowing to pressure from activist hedge funds Elliott Management Corp. and Jana Partners LLC, announced plans to return at least $3 billion to shareholders and cut $160 million in expenses.
Violin Memory Inc., a maker of flash- memory storage systems, named Kevin DeNuccio as president and chief executive officer to replace Don Basile, who was fired in December amid mounting losses and a plunge in the stock.
Violin Memory Inc., the maker of flash-memory storage that’s plunged in value since its initial public offering last year, has attracted takeover interest, the Clinton Group Inc., an activist shareholder, said.
Samsung Electronics Co. , Toshiba Corp. and other makers of flash-memory chips won a court ruling that bars a collective price-fixing lawsuit against them on behalf of U.S. consumers who purchased computer memory cards and drives and digital media players.
Macronix International Co., a Hsinchu, Taiwan-based maker of integrated circuits and memory products, said yesterday that it filed a complaint with the U.S. International Trade Commission against Spansion Inc. and some of its customers.
Toshiba Corp., the Japanese maker of flash-memory chips, elevators and steam turbines, posted a larger-than-expected profit because of higher semiconductor prices, a weaker yen and rising sales of power equipment.