Investor Suing HP Over The $10 Billion Autonomy Deal

Posted on Nov 27 2012 - 5:58am by Editorial Staff

Last week while reporting its fourth quarter results, Hewlett-Packard alleged that the owners of Autonomy having misrepresented their company’s financial state to $11.1 billion takeover calling it as “serious accounting improprieties.” Reuters is reporting that on Monday an investor sued HP claiming that the company knew about the statements of its Autonomy acquisition which leads the stock to fall. The proposed class action lawsuit was filed in a San Francisco federal court.

The company announced financial results for its fourth fiscal quarter and full fiscal year ended Oct. 31, 2012. The company reported the full year fiscal 2012 non-GAAP diluted earnings per share of $4.05 while the full year fiscal GAAP loss per share was of $6.41. The full year fiscal 2012 net revenue was of $120.4 billion, down 5% from the prior-year period.

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