Hewlett Packard (HP) is facing a US$1bn lawsuit from shareholders over the “vastly overvalued” acquisition of British software firm Autonomy.
According to claims brought against the multinational, HP tried to pull out of its US$11bn takeover of Autonomy before the deal closed. Board members face accusations that they were made aware of countless “red flags” about Autonomy and of ignoring damaging evidence.
The class action suit was filed at the San Francisco District Court and accuses...
About Robert Lovell
Business and finance journalist