Hewlett-Packard’s 2011 acquisition of Autonomy was a fiasco. After discovering that the big data analysis firm was apparently cooking its books, HP ultimately took an $8.8 billion (£5.6 billion) writedown.
In that context, the company’s announcement yesterday that it will pay $100 million (£65 million) to end a shareholder class-action lawsuit over the acquisition looks like small change.
“While HP believes the action has no merit, it is desirable and beneficial to HP and its shareholders to resolve the case as further litigation would be burdensome and protracted,” the company said in a statement yesterday.
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