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Zamansky & Associates LLC Announces Investigation Of Hewlett-Packard Co


Thursday, 25 Oct 2012 11:04am EDT 

Zamansky & Associates LLC announced that it is investigating the Hewlett-Packard Company’s 401(k) plan for potential violations of the Employee Retirement Income Security Act (“ERISA”). ERISA imposes fiduciary duties on how companies manage and administer their 401(k) and retirement plans for employees. The investigation concerns whether the Company breached fiduciary duties by failing to provide sufficient disclosure to employees who were plan participants, imprudently managing the plan and through other self-dealing. The shareholder lawsuits allege that the Company made materially false and misleading statements to investors regarding its business and financial results from November 22, 2010 and August 18, 2011. During this time, the Company reported growing revenues and income, and its stock price rose from $27 per share in March 2009 to as high as almost $54 per share in April 2010. The lawsuits accuse the Company of artificially causing this price rise, through false disclosures and other improper acts. 

Company Quote

35.43
0.39 +1.11%
25 Jul 2014