Ron Burgundy Posted July 21, 2014 Share Posted July 21, 2014 A former top executive at Autonomy Corp is seeking to block Hewlett-Packard Co's settlement of three shareholder lawsuits over its troubled purchase of the British software company, saying HP officials are wrongly absolved of a $8.8 billion writedown. In a court filing on Monday, a former Autonomy chief financial officer, Sushovan Hussain, said the "collusive and unfair" settlement, if approved by a federal judge, would let HP "forever bury from disclosure the real reason for its 2012 write-down of Autonomy: HP's own destruction of Autonomy's success after the acquisition." The June 30 accord called for HP shareholders to end efforts to force current and former officials, including Chief Executive Officer Meg Whitman, to pay damages to the Palo Alto, California-based company over its disastrous $11.1 billion Autonomy purchase. Instead, the shareholders agreed to help HP pursue claims against former Autonomy officials like Hussain and former CEO Michael Lynch, who have denied wrongdoing. View the full article Quote Link to comment Share on other sites More sharing options...
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