Not entirely unexpected, but yeah, the thing more surprising is the person suing. One Motorola Mobility investor is not happy with the company’s recent acquisition by Google, and well, you know what happened.

When Google announced that it was purchasing Motorola Mobility, Motorola’s mobile business unit, the search giant made sure to mention that it was paying $40 per share (a total of about $12.5 billion), which equated to a premium of 63 percent to the closing price of Motorola Mobility shares on Friday last. Many asked why Google would pay so much for Motorola, and the answer is simple: For the patents, of course! No sooner had the deal been announced did the speculation begin that Google’s main interest in the company was its 17,000-strong patent portfolio. However, it seems one Moto shareholder feels Google underpaid for Motorola Mobility and is suing.

BusinessWeek reports that investor John W. Keating yesterday filed a complaint against Motorola Mobility Holdings Inc.; its chief executive officer, Sanjay Jha; Google; and nine members of Motorola Mobilty’s board for failing to get the best price from Google. Keating claims that Motorola Mobility has enjoyed a resurgence since it was spun off from Motorola Inc. two years ago and with Android continuing to gain on Apple, the transaction prevents Motorola Mobility shareholders from sharing in future successes.

Keating is seeking class action or group status for his suit, in which he alleges board members breached their duty to investors and claims. Motorola and Google are accused of aiding and abetting.

SOURCE via Business Week