Newman Ferrara LLP Announces A Securities Fraud Class Action Lawsuit Has Been Filed Against Hewlett-Packard Co.
Newman Ferrara LLP announces that a class action lawsuit has been filed
against Hewlett-Packard Co. (“HP”) (NYSE: HPQ) and certain of its
executive officers, alleging violations of federal securities laws.
Investors who purchased HP securities between August 19, 2011 and
November 20, 2012 (the “Class Period”) may apply with the Court to be
appointed Lead Plaintiff no later than January 25, 2013. The Lead
Plaintiff will direct the litigation on behalf of the other class
members. The Court will select the Lead Plaintiff from among applicants
claiming the largest investment losses.
Investors who purchased shares of HP stock during the Class Period are
encouraged to contact Newman Ferrara attorney Roy Shimon at firstname.lastname@example.org
or call (212) 619-5400 to discuss this lawsuit or the Lead Plaintiff
On August 18, 2011, HP acquired software maker Autonomy Corporation
(“Autonomy”) for $10.2 billion. On November 20, 2012, HP announced that
it had taken an $8.8 billion write-down from its acquisition of Autonomy
due to accounting improprieties that existed at Autonomy. On this news,
HP’s stock plunged to its 52-week low of $11.35 per share.
The Complaint alleges that the defendants knew, but concealed from the
public, that at the time HP acquired Autonomy, Autonomy’s reported
operating results and historic growth were the result of serious
accounting improprieties, including the mischaracterization of sales and
the improper recognition of revenue. Numerous published reports have
claimed that Autonomy’s questionable accounting practices were no secret
and numerous red flags should have warned HP before it acquired
Autonomy. HP’s acquisition of Autonomy is currently being investigated
by the FBI and SEC.
Whistleblowers: Persons with knowledge that may aid in the
investigation of this matter are encouraged to contact the firm. Under
the Dodd-Frank Wall Street Reform Bill, whistleblowers are protected
from employer retaliation and may be entitled to as much as 30 percent
of the recovery if the information provided leads to a successful action.
Newman Ferrara maintains a multifaceted practice based in New York City
with attorneys specializing in complex commercial and multi-party
litigation, securities fraud and shareholder litigation, consumer
protection, civil rights, and real estate. For more information, please
visit the firm website at www.nfllp.com.
Newman Ferrara LLP Attorney: Roy Shimon 1250 Broadway, 27th
Fl. New York, NY 10001 email@example.com Tel.