HP 2015 Annual Report Download - page 176

Table of Contents



• is a putative securities class action filed on
August 3, 2012 in the United States District Court for the Northern District of California alleging, among other things, that from November 13,
2007 to August 6, 2010 the defendants violated Sections 10(b) and 20(a) of the Exchange Act by making statements regarding HP's Standards
of Business Conduct ("SBC") that were false and misleading because Mr. Hurd, who was serving as HP's Chairman and Chief Executive Officer
during that period, had been violating the SBC and concealing his misbehavior in a manner that jeopardized his continued employment with
HP. On February 7, 2013, the defendants moved to dismiss the amended complaint. On August 9, 2013, the court granted the defendants'
motion to dismiss with leave to amend the complaint by September 9, 2013. The plaintiff filed an amended complaint on September 9, 2013,
and the defendants moved to dismiss that complaint on October 24, 2013. On June 25, 2014, the court issued an order granting the defendants'
motions to dismiss and on July 25, 2014, plaintiff filed a notice of appeal to the United States Court of Appeals for the Ninth Circuit. On
November 4, 2014, the plaintiff-appellant filed its opening brief in the Court of Appeals for the Ninth Circuit. HP filed its answering brief on
January 16, 2015 and the plaintiff-appellant's reply brief was filed on March 2, 2015. Oral argument has not yet been scheduled.

 As a result of the findings of an ongoing investigation, HP has provided information to the U.K. Serious Fraud Office, the U.S.
Department of Justice ("DOJ") and the SEC related to the accounting improprieties, disclosure failures and misrepresentations at Autonomy that occurred
prior to and in connection with HP's acquisition of Autonomy. On November 21, 2012, DOJ representatives advised HP that they had opened an investigation
relating to Autonomy. On February 6, 2013, representatives of the U.K. Serious Fraud Office advised HP that they had also opened an investigation relating
to Autonomy. On January 19, 2015, the U.K. Serious Fraud Office notified HP that it was closing its investigation and had decided to cede jurisdiction of the
investigation to the U.S. authorities. HP is cooperating with the DOJ and the SEC, whose investigations are ongoing.
 As described below, HP is involved in various stockholder litigation relating to, among other things, its October 2011 acquisition of
Autonomy and its November 20, 2012 announcement that it recorded a non-cash charge for the impairment of goodwill and intangible assets within its
Software segment of approximately $8.8 billion in the fourth quarter of its 2012 fiscal year and HP's statements that, based on HP's findings from an ongoing
investigation, the majority of this impairment charge related to accounting improprieties, misrepresentations to the market and disclosure failures at
Autonomy that occurred prior to and in connection with HP's acquisition of Autonomy and the impact of those improprieties, failures and misrepresentations
on the expected future financial performance of the Autonomy business over the long term. This stockholder litigation was commenced against, among
others, certain current and former HP executive officers, certain current and former members of HP's Board of Directors and certain advisors to HP. The
plaintiffs in these litigation matters are seeking to recover certain compensation paid by HP to the defendants and/or other damages. These matters include
the following:
• consists of two consolidated putative class actions filed on November 26 and 30, 2012 in the United States
District Court for the Northern District of
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Source: HP INC, 10-K, December 16, 2015 Powered by Morningstar® Document Research℠
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