HP Faces Investor Suit Over $10B Autonomy Debacle

Law360, New York (November 26, 2012, 8:25 PM EST) -- A Hewlett-Packard Co. shareholder launched a proposed class action in California federal court Monday accusing the technology company of misleading investors about its now-infamous $10.2 billion buy of Autonomy Corp. PLC.

HP shareholder Allan J. Nicolow alleges that HP executives concealed information showing that Autonomy’s acquisition price was partially based on misleading financial statements and falsified accounting. HP said it took an $8.8 billion write-down after learning of the alleged impropriety from an Autonomy insider, according to the complaint.

"During the class period, defendants issued materially...
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Case Information

Case Title

In re HP Securities Litigation


Case Number

3:12-cv-05980

Court

California Northern

Nature of Suit

Securities/Commodities

Judge

Charles R. Breyer

Date Filed

November 25, 2012

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