Lawsuit Investigation | Company: Hewlett-Packard Co. | For: Misleading Sales Forecasts, Failure to Disclose Information, Artificially Inflated Stock Prices
Gilman Law LLP, a leading national securities law firm, is actively investigating shareholder allegations that Hewlett-Packard Co. (“HP”) and certain of its officers and directors violated the Securities Exchange Act 1934. HP is a provider of products, technologies, software, solutions, and services to individual consumers, small-and medium-sized businesses and large enterprises, including customers in the government, health and education sector.
For over 30 years, the lawyers at Gilman Law have been involved in all major aspects of securities fraud litigation. The firm specializes in cases involving stock manipulation, securities fraud, and shareholder rights violations. If you purchased or otherwise acquired shares of Hewlett-Packard Company (NYSE: HPQ), during the period between November 22, 2010 and August 18, 2011, and either lost money on the transaction or still hold the shares, you may contact Gilman Law LLP, by no later than November 14, 2011 to discuss your rights, including as to recovery of your losses or to obtain additional information.
Misleading Sales Forecasts
The shareholder class action suit alleges that California based, HP, issued false and misleading statements regarding the Company’s business and financial results. Defendants repeatedly assured investors that HP has a unique position in the market to expand and they were confident in their ability to deliver their revenue outlook for the fiscal year 2011.
Failure to Disclose Information
A class action lawsuit has been commenced in the United States District Court for the Central District of California on behalf of purchasers of the common stock of Hewlett-Packard Co. The Complaint alleges that Defendants failed to disclose material information to the investing public that HP’s business model was not working, as the Company was unable to leverage its extensive portfolio and scale of products and services in a strategically beneficial manner. HP allegedly failed to disclose that webOS, the TouchPad and the PC business were not central to HP’s business model and webOS would not be integrated across the Company’s entire product line. The suit further alleges that the TouchPad hardware was inefficient, limiting the degree of effectiveness of the webOS operating system. HP also failed to disclose that Defendants lacked a reasonable basis for their positive statements about HP’s turnaround, revenue growth rates, market share, new product introductions, diluted EPS, and the Company’s ability to deliver upon its long-term growth model.
Artificially Inflated Stock Prices
HP’s misleading sales projections in combination with its failure to disclose negative business trends, lead to artificially inflated prices during the Class Period, reaching a high of $48.99 per share on February 16, 2011. Then, after HP announced disappointing third quarter fiscal 2011 financial result and issued revised guidance for fiscal year 2011, HP’s stock declined $1.88 per share, to close at $29.51 per share.
Gilman Law LLP is one of the country’s premier national law firms that represents institutional and individual investors in class actions, complex securities and corporate governance litigation. The firm has been a champion of investor rights for over 30 years and has been recognized for its reputation for excellence by the courts. Gilman Law has extensive experience representing both individual and institutional investors in securities class action suits. Gilman Law has recovered over a billion dollars for its clients and can help you recover any losses that you have incurred as a result of fraudulent practices. For a free evaluation of your case or to obtain additional information, please fill out the form on the left or call Toll Free 1-888-252-0048.
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