HP Sued Over Autonomy Deal

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I don't think there is a single person on the planet that didn't see this one coming.

Hewlett-Packard Co was sued on Monday by an investor who claimed the company knew statements about its Autonomy acquisition were misleading and led the stock to fall, according to lawyers representing the plaintiff. The proposed class action lawsuit was filed in a San Francisco federal court.
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The way I see it unless the board was making backroom deals to enrich themselves while screwing over shareholders then I just see these type thing as the risk you take when you invest in a company.
 
Sure, theres risk in acquisitions, but how much was Autonomy overvalued? 8.8billion? Out of an 11.1 billion sale? Thats almost overvaluing by 500%. Whens the last any of you bought ANYTHING for 5 times more than it was worth? Thats beyond stupidity.
 
david_ said:
Insert "any Apple product" comparison here.
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That was a quick anti-Apple post. True, but quicker than I'd expect! :)

It was a risk that they took. Welcome to the world of investing. I don't understand why they would invest in a company purposely knowing it would fail with that much money involved.
 
I actually want to know what the hell happened. Of course everyone knew it HP was paying too much, but geez. $5Billion of the potential worth was based on fraud? Someone better be doing a perp walk when this is over.
 
Wouldn't suing a company you invested make them lose more money, making it clear you don't care if they lose money or not?
 
I went to school with a guy who works for autonomy, he seems to have fallen off the radar.
 
david_ said:
Insert "any Apple product" comparison here.
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2 times? Maybe. 5, I dont think so. Dont let the love of people hating on apple dismiss my point of out hand. We are not talking about a phone or iPad for $500, we are talking 8.8 BILLION dollars.

Jesus.
 
Autonomy Online Backup (Connected) is a constant source of irritation for me.
 
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