HP Pays Out $49M For Plaintiffs' Legal Fees

Law360, New York (September 5, 2008, 12:00 AM EDT) -- Hewlett-Packard Co. has paid some $49 million in plaintiffs' attorneys' fees and expenses as part of settlements reached in a series of consumer class actions over allegedly defective floppy disk controllers.

In a filing Thursday with the U.S. Securities and Exchange Commission, HP said the $49 million went toward stipends for the named plaintiffs, plaintiffs' attorneys' fees, costs and expenses for six different lawsuits filed in Texas, Oklahoma and California.

From 2000 to 2005, HP and Compaq Computer Corp., which the firm acquired in 2002, were...
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