HP Says Investor Suit Over $10B Autonomy Deal Lacks Facts

Law360, New York (July 3, 2013, 5:19 PM EDT) -- Hewlett-Packard Co. on Tuesday urged a California federal court to throw out a proposed shareholder class action over its now-infamous $10.2 billion buy of Autonomy Corp. PLC, arguing the plaintiffs don’t have enough facts to sustain their consolidated complaint.

HP shareholder Allan J. Nicolow first sued in November, alleging HP executives concealed information showing that Autonomy’s acquisition price was partially based on misleading financial statements and falsified accounting.

However, HP argues that the complaint from the putative class offers no hard facts to support its conclusory...
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