UK Software Co. Fights Stock-Drop Suit Over $8.8B HP Deal
By Dean Seal (November 5, 2019, 4:37 PM EST) -- Micro Focus International PLC fired back Monday in New York federal court against claims that it concealed issues related to an $8.8 billion deal to acquire Hewlett Packard Enterprise Co.'s noncore software assets, leading to stock drops.
The U.K.-based infrastructure software company said that contrary to the allegations in the putative class action, amended in September after being filed in July 2018, Micro Focus and its executives regularly updated the market about the company's progress in executing the merger, especially in regard to the very items the company's investors are now claiming were concealed from public view.
The latest complaint merely...
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