The purchase price is too low arcsight be sued by shareholders

According to foreign media reports, U.S. security software developers ArcSight shareholders in Thursday filed a lawsuit against the company, said that Hewlett-Packard 1.5 billion U.S. dollars to acquire ArcSight bid too low.

ArcSight Shareholder Thomas Tubberg (Thomas Turberg), in an indictment filed with the Delaware State Wilmington Court in Thursday, said ArcSight board members had an obligation to secure the highest bid for shareholders. Berg wants to be a collective plaintiff, representing arcsight other shareholders in a class-action lawsuit against the company.

"The defendants in this case should have allowed the shares to be traded freely so that public shareholders could benefit from ArcSight's good market prospects," he said in the indictment. But the defendants did not do so, and their actions have made HP a beneficiary, and such actions have undermined the interests of ArcSight shareholders. ”

Hewlett-Packard announced September 13 that it would buy ArcSight at $43.50 a share, a 24% higher than the previous trading day, with cash payments. On the day Hewlett-Packard announced the deal, ArcSight's share price surged $8.81, or 25%, to $43.91.

ArcSight spokesman Robert Dorti Robert Dougherty has yet to comment on a shareholder class action.

ArcSight's shares fell 0.07 U.S. dollars, or 0.16%, to $43.55 in regular trading on the New York Stock Exchange in Thursday. In the past 52 weeks, ArcSight's lowest share price was $17.51, up from $44.25.