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Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Hewlett-Packard Co


Thursday, 29 Nov 2012 06:05pm EST 

Ryan & Maniskas, LLP announced that a class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of purchasers of Hewlett-Packard Co common stock during the period between August 19, 2011 and November 20, 2012 (the Class Period). The complaint alleges that during the Class Period, defendants concealed that the 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. In addition, defendants concealed known negative business trends concerning the profit margins of the Company’s Enterprise Services business, formerly known as Electronic Data Systems Corporation (“EDS”), which Hewlett-Packard had acquired in August 2008 for $13.0 billion. As a result of defendants’ false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period, reaching a high of $29.89 per share on February 16, 2012. 

Company Quote

34.93
-0.01 -0.03%
24 Oct 2014