HP settles securities class action for $57 million

Settlement hopes to end investor issues with restructured business plans

When a company as large as Hewlett-Packard (HP) makes business decisions, there’s bound to be some collateral damage. On March 31, the computer giant announced that it would settle investor claims that a series of decisions it made in 2011 deviated so far from its historical business model that they were essentially fraudulent.

In August of 2011, HP announced that it would retune its model, startling investors and leading many to decry future plans. The change in direction was heralded by the acquisition of Autonomy PLC for $11 billion, the retirement of the WebOS platform HP had recently acquired from Palm Inc. and the potential to split HP’s personal computer operations from larger operations as the company sought to move into the networking and enterprise technology space.

Executive Editor

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Chris DiMarco

Chris DiMarco, Executive Editor of InsideCounsel magazine, has a background in multimedia production with previous involvement in projects in which he developed and created content...

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