HP Beats Securities Suit Over $1.3B Palm Acquisition

Law360, New York (September 4, 2012, 5:45 PM EDT) -- A California federal court last week followed through with the tentative dismissal of a putative 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., finding HP's alleged misstatements to shareholders are shielded by securities law.

U.S. District Judge Andrew J. Guilford said that statements made by former HP CEO Leo Apotheker, current Chief Financial Officer Catherine Lesjak and current Executive Vice President Todd Bradley in which the executives allegedly misrepresented the company's...
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