Palm Closing Retail Shops

Palm announced on Wednesday that it has decided to close its retail shops as it faces the effects of a class-action lawsuit filed by Treo owners. The company’s 34 stores including eight Palm-branded locations and 26 shops that were inside Airport Wireless outposts will have to go by the end of the current quarter. In addition, as part of the settlement of a class-action suit filed back in 2005, Palm agreed to give cash rebates for the Treo 600 and 650 owners who have had their units replaced or repaired at least twice.