HP, Others Hit With Derivative Suit Over $11B Merger

Law360, New York (December 21, 2012, 5:24 PM EST) -- A group of current and former executives of Hewlett-Packard Co. and its accounting firms was hit with a shareholder derivative suit in California federal court Tuesday, the first such action stemming from HP’s botched $11.1 billion acquisition of a British software company.

The suit, filed by HP shareholder Joseph Tola, targets executives from HP, Deloitte LLP, KPMG LLP, Perella Weinberg Partners UK LLP and Barclays Capital Securities Ltd. and alleges breach of fiduciary duty, corporate waste, negligence and securities violations related to HP’s acquisition of Autonomy...
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