MoMo Shareholders Approve $12.5B Google Buy, Lemko Tries To Block

Back in August Google revealed the company’s intention to acquire Motorola Mobility.  The deal still hasn’t pushed through but the recent Motorola Mobility shareholders’ meeting could fast track things.

On Thursday, 74% of the total number of MoMo shareholders attended the meeting with the agenda of discussing the pending acquisition and to know where the shareholders stand.  Ninety nine percent of the shareholder attendees voted in favor of the acquisition.  The high turnout and the positive outcome of the voting sides fairly well in favor of Google, especially given the fact that their Android platform is under legal attacks and MoMo patents could help them in a huge way.

“We are pleased and gratified by the strong support we have received from our stockholders, with more than 99 percent of the voting shares voting in support of the transaction. We look forward to working with Google to realize the significant value this combination will bring to our stockholders and all the new opportunities it will provide our dedicated employees, customers, and partners,” stated Chairman and CEO of Motorola Mobility Sanjay Jha.

Though shareholders support the acquisition, a big player in the tech world could actually hinder the deal.  Lemko Corp., a Schaumberg premier IP software company, filed a lawsuit against MoMo accusing the Libertyville-based company from stealing their source code for cellular networks and phones.  Lemko and Motorola Inc., which split into Motorola Solutions and Motorola Mobility, has been legally battling stolen trade secrets for three years now.

Lemko accused Motorola that the company hired Xiaohong Sheng, a Lemko engineer, to get trade secrets regarding their PDE technology which provides location information of mobile devices via GPS or satellite signals.

Lemko spokesman Raymond Minkus said that the company “will exercise its legal rights to prevent Motorola’s illegal sale, which would result in the fraudulent conveyance of our source code to Google.”

Motorola filed a counter lawsuit stating that Sheng along with other former Motorola employees conspired to steal the company’s trade secrets and gave them to Lemko.  According to the lawsuit, Hanjuan Jin, fellow defendant of Sheng and software engineer, simultaneously worked for Lemko and Motorola for some time.  Lemko answered the accusation by stating that Sheng indeed worked for them in February 2005, but left in October 2006 to work for Motorola, but was fired in 2008.  Motorola claims that Sheng is a mole planted by Lemko to acquire their trade secrets.

The lawsuit filed by Lemko on Thursday is the second lawsuit against Motorola in two weeks.  Last week, Lemko filed a lawsuit in Cook County Circuit Court claiming that their business has been greatly affected by Motorola’s actions.