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If you purchased shares of Hewlett-Packard Company (NYSE: HPQ), you might have certain options and should contact the Shareholders Foundation, Inc.
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To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Lawsuit Overview
Settlement Overview
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September 15, 2014 - The court approved the settlement, entered the orders approving the plan of allocation, the motion for attorneys’ fees and expenses, and dismissed the action with prejudice.
May 2, 2014 - The court preliminarily approved the settlement.
March 31, 2014 - Parties filed a stipulation of settlement.
May 8, 2013 - The court granted in part and denied in part the defendants' motion to dismiss.
December 3, 2012 - The defendants filed a motion to dismiss.
October 19, 2012 - The lead plaintiffs filed a second amended complaint on behalf of investors who purchased Hewlett-Packard Company (NYSE: HPQ) common shares between February 9, 2011 and August 18, 2011. The lead plaintiffs alleges that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between February 9, 2011 and August 18, 2011.
August 20, 2012 - The court granted the defendants motions to dismiss and granted plaintiffs leave to file an amended complaint.
April 11, 2012 - The defendants filed motions to dismiss.
February 13, 2012 - The lead plaintiffs filed an amended consolidated complaint.
December 19, 2011 - The lead plaintiffs and lead counsel were appointed and all cases were consolidated.
November 14, 2011 - Lead plaintiff motions were filed.
September 13, 2011 - An investor in shares of Hewlett-Packard Company (NYSE: HPQ) filed a lawsuit in the U.S. District Court for the Central District of California against Hewlett-Packard over alleged violations of Federal Securities Laws.
According to the complaint the plaintiff alleges that the Hewlett-Packard Company and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing between November 22, 2010 and August 18, 2011 materially false and misleading statements regarding its business and financial results.
Hewlett-Packard’s 12months Total Revenue rose from $104.28billion reported on Oct 31, 2007 to $126.03billion reported on Oct. 31, 2010 and its Net Income increased over the same time frame from $7.26billion to $8.76billion.
Shares of Hewlett-Packard Company (NYSE: HPQ) rose from slightly under $27 per share in March 09 to as high as almost $54 per share in April 2010.
In July 2010, Hewlett-Packard Company completed its acquisition of Palm Inc., a provider of smartphones powered by the Palm webOS mobile operating system, for $1.2 billion. The plaintiff alleges that between November 22, 2010 and August 18, 2011, the defendants represented that webOS was going to play an integral role in Hewlett-Packard’s strategy going forward, including running on Hewlett-Packard's new TouchPad tablet PC as well as on all of its PCs by 2012.
Then, on August 18, 2011, Hewlett-Packard announced its third quarter fiscal 2011 financial results and issued revised guidance for fiscal year 2011. In addition, Hewlett-Packard announced several major shifts in its long-term business model, including that it will discontinue operations for webOS devices, specifically the TouchPad and webOS phones.
On August 18, 2011, Hewlett-Packard's stock HPQ declined $1.88 per share, to close at $29.51 per share. Since the beginning of 2011 HPQ stocks fell from over $48 per share to recently under $23 per share, below its 2009 low trading price.