Hewlett Packard Company announced Friday that it is close to settling three shareholder lawsuits surrounding the company’s acquisition of Autonomy Corporation. “HP is in serious discussions to settle the shareholder derivative litigation related to Autonomy, but no final deal has been reached yet,” the company said in a statement.
Bloomberg News reported, based on information provided by a confidential source, that HP and investors have agreed to jointly pursue claims against Autonomy co-founder Michael Lynch, according to Bloomberg News. HP’s CEO, Meg Whitman, has said that Autonomy’s financial results were intentionally overstated at the time of the deal, but Lynch has denied these allegations, reported the Wall Street Journal.
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