HP hit with civil securities lawsuit over Autonomy deal

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    Anonymous

    Technology News

    HP logo is seen outside Hewlett-Packard Belgian headquarters in DiegemSAN FRANCISCO (Reuters) – Hewlett-Packard Co was sued on Monday by an investor who claimed the company knew statements about its Autonomy acquisition were misleading and led the stock to fall, according to lawyers representing the plaintiff. The proposed class action lawsuit was filed in a San Francisco federal court. HP dropped a bombshell last Tuesday with an $8.8 billion write-down on its acquisition of British software firm Autonomy, saying the company inflated sales with improper accounting. Autonomy co-founder Mike Lynch has denied any wrongdoing. HP bought Autonomy for a hefty $11. …


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