HP pays $100 million to settle shareholder class-action suit

Dutch pension fund manager PGGM said on Tuesday Hewlett-Packard had agreed to pay $100 million to settle a class-auction lawsuit relating to the company's 2011 acquisition of Autonomy, a "big data" analysis company. PGGM alleged that HP made "false and misleading" statements about Autonomy's value and the reasons for its "poor performance" after HP's $11 billion acquisition of the company. A subsequent $8.8 billion write-down that resulted after Autonomy's "accounting improprieties and over-valuation" were revealed caused HP's stock price to plummet, PGGM said, "damaging HP shareholders severely".

HP pays $100 million to settle shareholder class-action suit source: http://finance.yahoo.com/news/hp-pays-100-million-settle-115035849.html