HP Investor Sues Over $11B Autonomy Deal, Server Woes

Law360, New York (January 23, 2013, 3:10 PM EST) -- Hewlett-Packard Co. was hit Friday with a proposed securities class action in California federal court accusing the company and its leadership of bungling the $11.1 billion acquisition of Autonomy Corp. PLC and misleading investors about the financial prospects of a key product line.

Investor Paul Neumann filed alleges several violations of the Securities Exchange Act of 1934. Neumann contends HP and its top executives committed fraud by not properly vetting or managing Autonomy, which ultimately resulted in an $8.8 billion write-down for HP in November, and...
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