The lawsuit, filed in U.S. District Court for the Northern District of California
Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Should members of the putative class have questions concerning their rights and interests, they may contact plaintiff’s counsel at (310) 356-6890. According to the complaint, HP knew at the time it made its statements that it had vastly overpaid for Autonomy and that the purported synergistic benefits would never materialize. As widely reported, the company was forced to take an $8.8 billion
The complaint also alleges a fraudulent scheme by Hewlett-Packard and certain insiders from at least February 20, 2008
According to the complaint, beginning in early 2008, HP learned that the Integrity servers were facing obsolescence. The servers run on the Itanium chip, manufactured by Intel Corporation. The complaint notes that without the Itanium chip, HP could not sell the Integrity servers, and its high-profit service agreements would be wiped out. At some point prior to February 2008
Shareholders allege that the frauds associated with the Autonomy acquisition and the Integrity servers have had a severe effect on HP’s stock. From February 20, 2