Goldman and Vista settle claims over tech deal

Goldman Sachs Blink

Goldman Sachs and Vista Equity Partners agreed to settle claims they cost Tibco Software investors $100m by miscounting the number of shares involved in a buyout of the maker of business computer programs.

Bloomberg News reports that Tibco shareholders “have reached an agreement-in-principle” to resolve claims that Goldman Sachs botched the share count in Vista’s more-than-$4bn takeover of the software firm, according to a filing Thursday in Delaware Chancery Court. The settlement is worth about $30m, according to a person familiar with the matter who asked to remain anonymous because the terms haven’t been made public.

Disgruntled Tibco investors alleged that Vista agreed to pay $24 a share for the software maker, valuing the company at $4.1bn. After the deal was signed, Tibco acknowledged that it may have overstated the number of shares involved in the deal based on Goldman Sachs’s count.

To access the complete Bloomberg News article hit the link below:

Goldman Sachs, Vista Settle Mistake Claims Over Tibco Deal

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