|[November 29, 2012]
Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Hewlett-Packard Company
WAYNE, Pa. --(Business Wire)--
Ryan & Maniskas, LLP (www.rmclasslaw.com/cases/hpq)
announces that a class action lawsuit has been filed in the United
States District Court for the Northern District of California on behalf
of purchasers of Hewlett-Packard (News - Alert) Company ("Hewlett-Packard" or the
"Company") (NYSE:HPQ) common stock during the period between August 19,
2011 and November 20, 2012 (the "Class Period").
For more information regarding this class action suit, please contact
Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877)
316-3218 or by email at email@example.com
or visit: www.rmclasslaw.com/cases/hpq
The complaint alleges that during the Class Period, defendants concealed
that the Company had gained control of Autonomy (News - Alert) in 2011 based on
financial statements that could not be relied upon because of serious
accounting manipulation and improprieties. In addition, defendants
concealed known negative business trends concerning the profitmargins
of the Company's Enterprise Services business, formerly known as
Electronic Data Systems (News - Alert) Corporation ("EDS"), which Hewlett-Packard had
acquired in August 2008 for $13.0 billion. As a result of defendants'
false and misleading statements, the Company's stock traded at
artificially inflated prices during the Class Period, reaching a high of
$29.89 per share on February 16, 2012.
On August 22, 2012, Hewlett-Packard issued a press release announcing a
third quarter 2012 earnings per share loss of $4.49, largely as the
result of an $8.0 billion charge for impairment of goodwill associated
with the acquisition of EDS (News - Alert). On this news, the Company's stock price
dropped $1.56 per share to close at $17.64 per share on August 23, 2012.
Then, on November 20, 2012, the Company disclosed it had taken an $8.8
billion charge related to its acquisition of Autonomy due to serious
accounting improprieties. On this news, the Company's stock price
dropped $1.59 per share to close at $11.71 per share, a decline of 12%,
If you are a member of the class, you may, no later than January 25,
2013, request that the Court appoint you as lead plaintiff of the class.
A lead plaintiff is a representative party that acts on behalf of other
class members in directing the litigation. In order to be appointed lead
plaintiff, the Court must determine that the class member's claim is
typical of the claims of other class members, and that the class member
will adequately represent the class. Under certain circumstances, one or
more class members may together serve as "lead plaintiff." Your ability
to share in any recovery is not, however, affected by the decision
whether or not to serve as a lead plaintiff. You may retain Ryan &
Maniskas, LLP or other counsel of your choice, to serve as your counsel
in this action.
For more information about the case or to participate online, please
or contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218, or
by e-mail at firstname.lastname@example.org.
For more information about class action cases in general or to learn
more about Ryan & Maniskas, LLP, please visit our website: www.rmclasslaw.com.
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan &
Maniskas, LLP is devoted to protecting the interests of individual and
institutional investors in shareholder actions in state and federal
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