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U.s. Judge Casts Doubt On Hp-Shareholder Settlement In Autonomy Lawsuit

Ron Burgundy

By Ron Burgundy,
in Tech News

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Ron Burgundy Omniscient Member

Ron Burgundy

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HP logo is seen outside Hewlett-Packard Belgian headquarters in DiegemDistrict Judge Charles Breyer said the settlement contained a "potentially fatal" provision, under which HP would hire shareholder attorneys to pursue claims against ex-Autonomy executives. Breyer said he would not approve the proposed fees for shareholder lawyers. Additionally, Breyer said that in order to approve the remainder of the deal, the judge may have to conduct a separate inquiry into the merits of dismissing claims against HP officers, including current Chief Executive Officer Meg Whitman. HP announced a $8.8 billion writedown in November 2012, just over one year after buying Autonomy, and linked more than $5 billion to accounting fraud and inflated financials by Autonomy executives.




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