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HP The Almighty Buck Businesses The Courts

HP Will Pay $100 Million To Settle Autonomy-Related Lawsuit 48

itwbennett writes: Although it 'believes the action has no merit,' HP today announced it will pay $100 million in a settlement with PGGM Vermogensbeheer B.V., the lead plaintiff in the securities class action arising from the impairment charge taken by HP following its acquisition of Autonomy. This is just the latest episode in the fallout from HP's Autonomy acquisition.
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HP Will Pay $100 Million To Settle Autonomy-Related Lawsuit

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  • by gstoddart ( 321705 ) on Tuesday June 09, 2015 @11:51AM (#49876731) Homepage

    Although it 'believes the action has no merit'

    Well then ... I assert that HP is acting as a proxy for alien spies, and using their market position to facilitate the takeover of planet Earth by producing ever-crappier consumer products, and ensuring their web pages are useless and mind-numbingly badly written with useless URLs.

    Give me my fucking $100 million dollars.

    Sorry, but if it has no merit, $100 million to make it go away is an awful lot of money.

    • $100 million is not a lot when you are talking about $11.7 billion screw up it's less that 1%.

      • by zarr ( 724629 )
        $100 million can easily be more then $11.7 billion if it's from a different budget. In HP's case I guess they just had $100 million left on the screwup-budget that they just had to spend somehow. Big companies are so fscked up.
    • Yep. $100 million is a lot of money to spend if a case truly has no merit. It doesn't cost nearly that much to pay attorneys to litigate something to death. They paid up to avoid further damage.

  • Could this be a sign that the Fiorina/Hurd/Apoteker era is coming to an end for HP? Large companies often have near-death experiences before something gets too bad to ignore. IBM had this in the early 90s, and had to resort to major surgery to stay in the game. They're currently experiencing another one under Rometty, maybe the last, by which they're gutting everything out of the company and trying to become a white-shoe management consulting firm...with big data!

    I'm guessing HP is doing the same. They just

  • Is HP capable of doing anything these days without either making a complete hash of it, or landing in legal trouble?

    That's an inclusive 'or' - they appear to be quite capable of making a complete hash of something AND landing in legal trouble over it.

  • This decision must have passed the legal department.
    And it seems they've advised the top brass this case has no merit and they'll happily fight it.
    For a cool $100 million + in legal fees :)

    So for once HP did the smart thing.
    • This decision must have passed the legal department.

      And it seems they've advised the top brass this case has no merit and they'll happily fight it.

      For a cool $100 million + in legal fees :)

      So for once HP did the smart thing.

      Legal Department probably refused to say point blank that HP would definitely win (because only dumb legal departments do that), but said it would be somewhat expensive to fight. Probably less than $50M unless they are overpaying outside counsel.

      Decision was probably motivated by non-legal factors. $100M is a drop in the bucket compared to cost of negative publicity on stock valuation. $100M is also a very small amount to pay to resolve outstanding litigation in anticipation of due diligence on substanti

  • None of the linked articles seem to say....

  • This company is really a joke. Instead of creating innovation or making products, year after year they're just making headlines for doing stupid things.
  • So HP are paying out even though they state the case has "no merit". Are they hoping that the other "no merit" case (against former Autonomy owners) will bring fruit?

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