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HP agrees to pay $57 million to settle shareholder lawsuit

01
Apr
2014

(Reuters) – Hewlett-Packard Co agreed to pay $57 million to settle a lawsuit that accused the personal computer makers former management of defrauding shareholders by abandoning a business model it had long touted. The lawsuit was filed after former Chief Executive Leo Apotheker shocked investors on August 18, 2011 by announcing plans to refocus the company on business services and products. He also revealed plans to scrap WebOS, whose rights HP had obtained when it bought Palm Inc in 2010; pay $11. …

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