HP has agreed to pay $57m to shareholders miffed by the management of Leo Apotheker. This comes after the plaintiffs sued the firm for defrauding them by abandoning its business model. The investors launched a class action suit after former chief Apotheker shocked them, and the rest of the tech world, by announcing plans in …
Re Leo & Autonomy...
"JUST BUY THE DAMN COMPANY. I DON'T CARE HOW, OR FOR HOW MUCH - JUST BUY IT!!!"
PS : I think that's exactly how it went.
Is $57mm really enough to pacify shareholders after a $15b writedown?
Or was that all that was left after lawyers' fees?
HP - where incompetence meets idiocy, every day.
"Will go towards covering people or companies that bought shares in HP between 22 November, 2010 and 18 August, 2011.". Of course those who held onto the stock during this bounce will see nothing. Oh, and the lawyers will get rich! What else is new?
Shareholders are paying to reimburse themselves for what their own company did to them.
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