Platinum Technology Inc has withdrawn its motion for a preliminary injunction in which it sought to block the merger between Boole & Babbage Inc and BMC Software Inc and to force Boole to negotiate exclusively with Platinum. Accordingly, the hearing on Platinum’s motion that was scheduled for today has been canceled and Platinum’s efforts to enjoin the merger have been abandoned. Instead, in a proposed amended complaint, Platinum now seeks damages of at least $30m as its remedy for Boole’s alleged breach of contract. Platinum contends that Boole breached an exclusive negotiation agreement with it by signing the deal with BMC. The original complaint, which sought to restore that privileged negotiation, also named BMC as a defendant. But now Platinum says that the evidence shows that BMC was also a victim of Boole’s conduct rather than a participant and thus the amended motion also seeks to dismiss BMC as a defendant in the suit. Further, Platinum contends that such evidence demonstrates that the actions of Boole’s management have exposed the company and its officers and directors to potential monetary liability to BMC and to Boole’s shareholders, which could be substantial. Because of those liabilities, Platinum insists, Boole is no longer an attractive target for it. Platinum recently filed under seal the motion to amend its complaint, while Boole also filed a motion for to assert a counterclaim challenging Platinum’s allegations. Platinum and the court have already agreed to permit Boole to file its counterclaim, while the court has set a hearing for January 22 on Platinum’s motion to amend the complaint. Boole continues to insist that Platinum’s claims are groundless. á
