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Hp To Settle Suits Over Autonomy Deal; Make Claim Against Ex-Ceo Lynch

Ron Burgundy

By Ron Burgundy,
in Tech News

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Ron Burgundy Omniscient Member

Ron Burgundy

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A view of the Hewlett Packard headquarters in Palo AltoHewlett-Packard Co HPQ.N and attorneys representing shareholders have agreed to settle litigation over its troubled $11.1 billion acquisition of British software company Autonomy Corp, according to a source familiar with the negotiations. Under the terms of the settlement, involving three lawsuits, the attorneys for the shareholders have agreed to drop all claims against HP’s current and former executives, including CEO Meg Whitman, board members and advisers to the company, the source said. The exception to that will be former officials at Autonomy. As part of the agreement, the shareholders' attorneys will assist HP in pursuing claims against Autonomy's co-founder and former CEO Michael Lynch, its former chief financial officer Sushovan Hussain, and potentially others related to Autonomy, the source said.




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