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Exclusive: HP to settle suits over Autonomy deal; make claim against ex-CEO Lynch

28
Jun
2014

Hewlett-Packard Co and attorneys representing shareholders have agreed to settle litigation over its troubled $11.1 billion acquisition of British software company Autonomy Corp, according to a source familiar with the negotiations. Under the terms of the settlement, involving three lawsuits, the attorneys for the shareholders have agreed to drop all claims against HPs current and former executives, including CEO Meg Whitman, board members and advisers to the company, the source said. The exception to that will be former officials at Autonomy. As part of the agreement, the shareholders attorneys will assist HP in pursuing claims against Autonomys co-founder and former CEO Michael Lynch, its former chief financial officer Sushovan Hussain, and potentially others related to Autonomy, the source said.

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