They argue Samsung SDS deceived the investors by giving false information about the company. In contrast to a previous announcement to its investors, Samsung SDS said Friday that it was actually considering the split of the firm’s businesses, but that no specific plan or schedule had been set.

The company said it was not mulling any merger after the planned division of the businesses.

The investors group also criticized the family owners of Samsung Group for manipulating the stock price of Samsung SDS.

“We, the small investors of Samsung SDS, are not going to stand still, but will file lawsuits against the firm’s top management for misappropriation and stock manipulation,” the group said in a statement.

They claimed that the family owners made enormous profit, around $371.8 billion in total, out of the merger deal between Samsung C&T and Cheil Industries last year, and are now taking advantage of Samsung SDS in tightening their grip on Samsung C&T, the de facto holding company of the conglomerate.

The share price of the firm dropped from its peak of around 410,000 won ($351) to 142,500 won last week, disappointing investors.

In January, Samsung Electronics vice chairman Lee Jae-yong sold 2.05 percent of Samsung SDS shares, which he personally held, worth about 380 billion won.

“The company temporarily boosted the stock price right before vice chairman Lee sold the stocks, at 240,000 won per share, at that time,” said the group organized through an online community.

“The planned merger between Samsung SDS’ logistics business and Samsung C&T will only benefit the large shareholders, including vice chairman Lee,” the investors said.

It has long been speculated that the IT solutions firm would be split into two -- the logistics business and the IT solutions business -- and then merged with Samsung C&T and Samsung Electronics, respectively.

By Kim Young-won (wone0102@heraldcorp.com)