Shareholders Claim HP Hid Sales Practices In Derivative Suit
Law360 (May 18, 2021, 3:01 PM EDT) -- A shareholder of office technology company HP Inc. has filed a derivative action against 16 of the company's current and former executives and directors, claiming they breached their fiduciary duties by failing to disclose sales practices that would eventually cause an "erosion in profits."
In the action filed Monday in federal court in Delaware, plaintiff Scott Franklin alleged days after HP spun off from Hewlett-Packard in November 2015, the company's brass started misrepresenting the sales strategies to investors.
According to Franklin, the allegedly improper practices took place in the company's revenue-driving supplies division, which sells printer ink and toner. Franklin said...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!