Judge Questions Deal That Would Absolve HP Officers, Pay Big Attorney Fees, After Botched Merger
August 27, 2014
A settlement that would have re-directed shareholder attorneys, from pursuing claims against Hewlett-Packard for a botched merger to helping the company sue former executives of the software firm it acquired, was questioned by a district court judge in San Francisco. The rejected agreement terms would have seen shareholder attorneys drop all claims against HP’s current and former executives, with HP then working with with shareholder attorneys to bring claims against former executives of Autonomy, the acquired software firm. HP has alleged that Autonomy misrepresented its financial situation ahead of the merger.
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