HP Fights Class Cert. Bid In Stock Transfer Suit

Law360, New York (April 15, 2011, 4:14 PM EDT) -- Hewlett-Packard Co. on Friday sought to block class certification in a California suit brought by investors who claim the technology giant wrongfully confiscated their stock holdings without notice.

In oral arguments before Judge James Kleinberg of the Superior Court of the State of California, County of Santa Clara, HP attorney James Rutten of Munger Tolles & Olson LLP argued that the company did not bear the burden of proof in the long-running case.

The case centers on allegations that HP violated its fiduciary and statutory duties...
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