3Com Corporation Board of Directors Hit By Shareholder Lawsuit

An broker in 3Com Corporation shares (COMS) filed a accusation in Delaware cloister on account of investors in 3Com Corporation (Public, NASDAQ:COMS) claiming 3Com is undervaluing itself.

Those who purchased 3Com Corporation (Public, NASDAQ:COMS) afore the advertisement and currently still authority the COMS shares, accept assertive options and you should acquaintance the Shareholders Foundation, Inc at email: mail(at)shareholdersfoundation.com or at: +1 (858) 779 - 1554.

According to the complaint the plaintiff alleges that 3Com Corp.'s admiral awash the aggregation for too little if they agreed to Hewlett-Packard Co's $2.7 billion offer. In the filing, the plaintiff claims 3Com Corp breached its fiduciary duties to its shareholders by accepting the $2.7 billion offer, which ethics 3Com banal at $7.90 per share. The complaint names the absolute 3Com axle of admiral as defendants and alleges that they are "attempting to deceive 3Com shareholders and unfairly bankrupt them of the accurate amount of their investment in the company". A antecedent analysis by a law close anxious “whether the 3Com Board of Directors accept breached their fiduciary duties to stockholders by declining to abundantly boutique the Company afore entering into this transaction and whether HP is underpaying for 3Com shares, appropriately unlawfully harming 3Com stockholders.” Another analysis even alleged the accord “suspicious because it appears from a analysis of the Company's banking statements that the inherent amount of the Company's banal is greater than $7.90 per allotment and aswell because the Board of Directors acceptable did not boutique the Company to added abeyant buyers, to assure that the shareholders would get the best deal, above-mentioned to accordant to advertise the Company to Hewlett-Packard. 3Com Corporation, amid in Marlborough, MA, is a all-around action networking solutions provider. 3Com has three all-around artefact and solutions brands: H3C, 3Com, and TippingPoint that action networking and aegis solutions to enterprises ample and small. 3Com Corporation shares COMS traded at about $7.50 afterwards the advertisement and at about $5.60 per allotment the day afore the announcement. 3Com appear in 2007 Total Revenue (ending on may 30, 2008) of $1.29488billion and in 2008 (ending on May 31, 2009) Total Revenue of $1.31698billion with a Net Income of $114.72million.