There seemed to be a great wall of silence from HP on the current state of the various investigations and proceedings against Autonomy, Mike Lynch and his managers.
But I got a news alert yesterday that the US courts gave permission for shareholders to sue HP and Meg Whitman for making ‘misleading statements’ in quarterly calls post the acquisition. Very interestingly, the court dismissed shareholder claims against HP CEO at the time, Leo Apotheker, Mike Lynch and three other executives on the grounds that the lawsuit failed “to adequately show that they had knowingly or intentionally misled investors”.
The problem with any legal proceedings and investigations is that they go on for years and years and ruin lives in the process. At least Mike Lynch seems to be getting on with his. Invoke is both up and running and making investments. More news promised very soon I understand.
