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Palm shareholders hoping CFO continues to have back trouble

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Canceling conference appearances may be the latest pump and dump scheme, or just blowing off JPMorgan. Shares of Palm, maker of wireless handheld devices like the Treo, shot up more than 4% on merger speculation created by CFO Andrew Brown’s “back troubles.” Always a euphemism for an impending takeover or unveiling a new wireless megadevice, Brown used his “back trouble” to get out of speaking at a JPMorgan tech conference in Boston. Palm quickly issued its “No, Seriously” press statement, insisting that Brown was not only experiencing back trouble but was “at the physical therapist right now.”
Palm (Nasdaq: PALM) shares have recoiled slightly, trading down over three quarters of a percent in morning trading.
Skyrocketing Health Costs at Palm, Sort of [WSJ Deal Journal]