If you are or were a participant in the Hewlett-Packard Company’s 401(k) plan whose individual accounts transacted in and/or held Hewlett-Packard Company (NYSE:HPQ) common stock at any time between February 12, 2011 and November 22, 2102, you have certain options and you should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The plaintiff alleges that the Hewlett-Packard Company’s 401(k) plan committee and investment review committee allegedly failed to look out for the plan participant’
Investors in HPQ shares filed recently a lawsuit against Hewlett-Packard Company over alleged securities law violations. The plaintiff alleges that Hewlett-Packard Company and certain of its officers and directors violated the Securities Exchange Act of 1934. More specifically, the plaintiff alleges that alleges that between August 19, 2011 and November 20, 2012, defendants allegedly concealed that Hewlett-Packard Company had gained control of Autonomy in 2011 based on financial statements that could not be relied upon because of serious accounting manipulation and improprieties.
On August 18, 2011, Hewlett-Packard Company announced the terms of a recommended transaction under which Hewlett-Packard Company (through an indirect wholly-owned subsidiary, HP SPV) will acquire all of the outstanding shares of Autonomy for £25.50 ($42.11) per share in cash. The transaction was unanimously approved by the boards of directors of both Hewlett-Packard Company and Autonomy.
Hewlett-Packard Company said in the announcement that over the last five years, Autonomy has grown its revenues at a compound annual growth rate of approximately 55 percent and adjusted operating profit at a rate of approximately 83 percent. Furthermore, Hewlett-Packard Company said that Autonomy has a consistent track record of double-digit revenue growth, with 87 percent gross margins and 43 percent operating margins in calendar year 2010.
On October 3, 2012, Hewlett-Packard Company announced that it has acquired control of Autonomy Corporation plc.
Then on November 20, 2012, before the market opened, Hewlett-Packard Company reported its fourth quarter and FY 2012 results. Among other things, Hewlett-Packard Company disclosed that the Fourth quarter and full year fiscal 2012 results include a non-cash goodwill and intangible asset impairment charge of $8.8 billion relating to the Autonomy business within the Software segment. Hewlett-
Shares of Hewlett-Packard Company (NYSE:HPQ) dropped from $13.39 per share on Nov. 19, 2012 to $11.36 on Nov. 20.2012.
Those who are or were participants in the Hewlett-Packard Company’s 401(k) plan whose individual accounts transacted in and/or held Hewlett-Packard Company (NYSE:HPQ) common stock at any time between February 12, 2011 and November 22, 2102, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.