HP Executives Didn't Breach Fiduciary Duty, Judge Hears

Law360, San Francisco (February 28, 2014, 3:58 PM EST) -- Hewlett-Packard Co. urged a California federal judge on Friday to toss a proposed class action claiming the company's ill-fated $11 billion purchase of Autonomy Corp. harmed HP's employee retirement plan beneficiaries, arguing there's no evidence that the company failed in its fiduciary duty to the plaintiffs.

HP argued that its executives had no duty to tell members of the company's employee retirement plan about directors' concerns regarding the Autonomy deal — which led HP to lose $8.8 billion —  ahead of making disclosures to the public....
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