| Company: | Hewlett-Packard Co. |
| Ticker Symbol: | HPQ |
| Class Period: | Aug-19-11 to Nov-20-12 |
| Date Filed: | Nov-26-12 |
| Lead Plaintiff Deadline: | Jan-25-13 |
| Court: | Northern District of California |
| Allegations: | |
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.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
