Shareholders Target Samsung as Galaxy Note 7 Fire Forces Plane Evacuation

A couple of shareholders are not happy with Samsung Electronics (SSNLF) . Blake Capital LLC and Potter Capital LLC, both units of Elliot Management, sent a letter to the technology company urging it to restructure, issue a special cash dividend and list a unit on Nasdaq. The funds argue that Samsung's shares trade at a steep valuation discount when compared with its peers. But the letter might be the least of Samsung's concerns. About 75 passengers on Southwest Airlines' (LUV) - Get Report Flight 994 from Louisville to Baltimore were forced to evacuate Wednesday after a Samsung phone burst into flames. Smoke and a strange odor were detected in the main cabin while the plane was loading to take off. No one was injured during the incident. Just last month, the U.S. Consumer Product Safety Commission urged all consumers who own a Samsung Galaxy Note 7 to power down and stop charging or using the device. And, according to a report by The Verge, the phone that caught fire was a replacement Galaxy Note 7 that had been exchanged at an AT&T store on September 21st.

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