HP's $1.5B ArcSight Deal Spurs Shareholder Suit

Law360, New York (September 16, 2010, 7:19 PM EDT) -- Hewlett-Packard Co.'s planned $1.5 billion acquisition of security software company ArcSight Inc. has prompted a proposed class action alleging the deal harms ArcSight shareholders.

The complaint, filed Thursday in the Delaware Chancery Court, calls the terms of the proposed acquisition “fundamentally unfair” to ArcSight shareholders and seeks a court order preventing the deal from going through.

HP and ArcSight, which sells security software aimed at compliance officers for multinational companies, announced the planned acquisition Monday, saying the deal values ArcSight stock at $43.50, a premium over...
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