By Casey Sullivan (Reuters) - A California federal judge has ordered Hewlett-Packard Co and Chief Executive Meg Whitman to defend a securities shareholder class action that claims they knew statements about HP's acquisition of software company Autonomy were misleading. At the heart of the lawsuit are claims that HP, its executives and directors made misleading statements about the acquisition of the British company, bought in 2011 for $11.1 billion, and the subsequent write-down of roughly $9 billion of HP's assets. Senior District Judge Charles Breyer issued his ruling in San Francisco federal court on Tuesday. The ruling also dismissed claims against five other former directors and executives of the information technology supplier, including one-time CEO Leo Apotheker. The securities class action against HP and its executives was brought last November by investors including lead plaintiff PGGM Vermogensbeheer B.V., a Dutch pension administrator operating in the healthcare and social work sectors. Though ordering HP and Whitman to defend the action, Judge Breyer took issue with the plaintiffs' arguments in the 20-page ruling. "The complaint fails to establish any coherent motive as to why defendants would knowingly purchase a company for several times its actual value or that they knew Autonomy's accounting was problematic," said Breyer. The judge also limited the claims that can be brought against Whitman and HP. Breyer said that the investors' claims against the company and its CEO are limited to the period after May 23, 2012, not before. Lawyers for HP, Whitman, the plaintiffs and the other HP defendants did not respond to requests for comment. (Reporting By Casey Sullivan; Editing by Kenneth Maxwell)
- The Independent
Musician was described as ‘one-of-a-kind’ by her Fleetwood Mac bandmates
Police are looking for Christopher Keeley, 27, of Weymouth, in connection with the killings of Carl and Vicki Mattson, who were both 70.
Quarterback John Hadl, one of the stars of the upstart American Football League who appeared in six Pro Bowls and had one All-Pro nod, died Wednesday. He was 82 and no cause was given. Hadl was the leader of an impressive vertical game in the pass-crazy AFL, throwing deep to receivers like Lance Alworth and […]
- Rolling Stone
A status conference will be held Jan. 10 regarding a potential retrial, which would start March 27
The Glass Onion star is "killing it."
(Bloomberg) -- The Biden administration’s student loan forgiveness plan remains stalled, after the 5th US Circuit Court of Appeals refused to lift an order blocking the sweeping program.Most Read from BloombergMusk’s Neuralink Hopes to Implant Computer in Human Brain in Six MonthsAn Arizona County’s Refusal to Certify Election Results Could Cost GOP a House SeatScientists Revive 48,500-Year-Old ‘Zombie Virus’ Buried in IceFTX Missing Billions Remain Mystery After Bankman-Fried GrillingNew York,
Kim Kardashian and Kanye West have officially cemented their “single parent” status and wiped their hands clean from one another as spouses. The Blast reported on November 29th that Kanye and Kim, along with their respective legal teams, reached a settlement agreement regarding the custody of their four children and the division of properties. Kim […]
- AZCentral | The Arizona Republic
TikToker Katie Sigmond recorded herself hitting a golf ball into Grand Canyon and her club flew in after it. Here are the crimes she was charged with.
"I laughed involuntarily. His comment was so absurd and insulting that I felt my brain separate from my body, like I wasn’t there."
Buckingham Palace staffer who resigned over racist comments once reportedly said Harry and Meghan's marriage would 'end in tears'
Lady Susan Hussey resigned after reportedly asking a Black charity founder "where they really came from" multiple times during a royal event.
- Greenville News
Gaylord Perry won 314 games during a 22-year career before being elected to the Baseball Hall of Fame in 1991.
The Today show weather anchor, 68, is back in the hospital and had been treated for blood clots in his leg and lungs
An elegant pair.
Malaysian influencer MsPuiyi was reportedly slapped with a fine after crashing her Porsche just days after it got a new paint job. MsPuiyi, whose real name is Siew Pui Yi, announced that she had finally bought her first sports car, a black Porsche, in a Facebook post in December 2021. The Penthouse cover star even reportedly shared photos and a video via Instagram Stories of her driving around Kuala Lumpur in her newly painted car.
- Business Insider
As Ukrainian forces recaptured a key town, another elite Russian unit appeared to go through 'the meat grinder'
Kyiv caught the world off guard with its fast-paced counteroffensive this fall, including an elite Russian unit in a key city in eastern Ukraine.
Simon Cowell has fans very concerned. The former “American Idol” alum showed off a new look recently and it’s caused absolute chaos on social media. Simon Cowell’s Face Alarms Fans! He recently appeared in a new video for “Britain’s Got Talent,” and the face transformation is alarming! During the video, Cowell encouraged future and potential […]
- The Guardian
Republican candidate’s reference to his out-of-state home opens him to same attacks that dogged Mehmet Oz in Pennsylvania
- Fox News
Democratic Senate Foreign Relations Committee Chairwoman Jeanne Shaheen shut down Texas Sen. Ted Cruz's questions about President Biden's role in the 2016 firing of a Ukrainian prosecutor.
- Patriots Wire
Weather could play a big factor in Thursday's Patriots-Bills game.
- Rolling Stone
Trump's response to accusations of antisemitism is to accuse his Jewish conservative critics of being disloyal