HP may face action over Autonomy deal
Nikhil Kumar is The Independent's New York correspondent. He was formerly assistant editor on the foreign desk and has also done a variety of jobs on the city desk, where he wrote about markets, commodities and other business and economics topics.
Tuesday 27 November 2012
Hewlett-Packard faces the threat of legal action over its acquisition of Autonomy after lawyers for an investor filed a proposed class action suit in a San Francisco court.
The investor claimed that the US technology company knew that statements about its £7.1bn deal to buy the British business in October last year were misleading and led the stock to fall, according to a Reuters report. News of the possible class action comes after HP revealed last week that it was taking a £5.5bn write-down and claimed that it had discovered "serious accounting improprieties" at Autonomy.
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