HP Close To Escaping Investor Suit Over WebOS Failure

Law360, Los Angeles (August 27, 2012, 7:43 PM EDT) -- A California federal judge on Monday tentatively dismissed a proposed class action over Hewlett-Packard Co.'s failure to implement WebOS on its computers and mobile devices after its $1.3 billion purchase of Palm Inc., saying HP's alleged misstatements to shareholders concerning the operating system are shielded by securities law.

U.S. District Judge Andrew J. Guilford said in a tentative ruling that statements made by former HP CEO Leo Apotheker and the company's current chief financial officer Catherine Lesjeck and executive vice president Todd Bradley in press releases,...
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