July 21 A former chief financial officer of
Autonomy Corp is opposing a settlement between Hewlett-Packard
Co executives and directors and the company's
shareholders over HP's troubled $11.1 billion acquisition of the
British software company.
In a Monday court filing, former CFO Sushovan Hussain called
the settlement "collusive and unfair" because it would shield HP
officials from scrutiny and any blame over the Autonomy
purchase, which resulted in an $8.8 billion writedown.
The settlement, which requires court approval, calls for HP
shareholders to drop their claims against current and former HP
officials, and help HP pursue claims against former Autonomy
officials like Hussain and former Chief Executive Officer
HP spokesman Howard Clabo in a statement called Hussain's
opposition to the settlement "baseless."
Lynch has not filed court papers opposing the settlement,
but a spokesman said Hussain's motion "reveals the depth of the
corruption that permeates the settlement."
The case is In re: Hewlett-Packard Co Shareholder Derivative
Litigation, U.S. District Court, Northern District of
California, No. 12-06003.
(Reporting by Jonathan Stempel in New York; Additional
reporting by Nadia Damouni; Editing by Lisa Von Ahn)