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Tibco Directors Faulted Over $100 Million Vista Deal Loss

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Tibco Software Inc.’s board left $100 million on the table after failing to rectify a mistake by Goldman Sachs Group Inc. in what turned out to be a $4.2 billion buyout by Vista Equity Partners, an investor said in a lawsuit.

Directors of Palo Alto, California-based Tibco didn’t push to have Vista officials honor an agreement to pay $100 million more than the final price for the software maker, after a miscount of the company’s outstanding shares by New York-based Goldman Sachs, its financial adviser, Tibco shareholder Paul Hudelson said in the complaint filed today in state court in Delaware.