Contact Center Industry News

TMCNet:  Hagens Berman Investigating Hewlett-Packard Board of Directors for Possible Breach of Fiduciary Duties in Acquisition of Autonomy; Encourages Whistleblower Assistance and Investor Inquiry

[November 21, 2012]

Hagens Berman Investigating Hewlett-Packard Board of Directors for Possible Breach of Fiduciary Duties in Acquisition of Autonomy; Encourages Whistleblower Assistance and Investor Inquiry

SAN FRANCISCO --(Business Wire)--

Hagens Berman Sobol Shapiro LLP, a national shareholder-rights law firm, today announced an investigation of Hewlett-Packard (News - Alert) Co. (NYSE:HPQ) ("HP") and its board of directors for potential breaches of fiduciary duties in connection with the company's acquisition of Autonomy (News - Alert) Corp. PLC ("Autonomy").

On Nov. 20, 2012, HP announced its quarterly earnings, which included a quarterly loss and a $8.8 billion write down. The company said that HP's acquisition of Autonomy, a British software firm HP purchased for $11.7 billion in Aug. 2011, contributed to the write down. Meg Whitman, CEO of HP, accused Autonomy of intentionally inflating financial metrics before the acquisition.

On the news, HP's stock price fell $1.59, or about 12 percent, closing at $11.71 on Nov. 20, 2012.

HP said it has referred the matter to the U.S. Securities and Exchange Commission's Enforcement Division and the U.K.'s Serious Fraud Office for a civil and criminal investigation, and states that it is preparing to sue "various parties" in civil courts in an effort to recover lost shareholder value. Autonomy's founder Mike Lynch has rejected the accusations, including HP's claim that more than $200 million of Autonomy's revenue was improperly stated over a two-year period, which could lead to a $5 billion write down, saying that it "just doesn't add up."

Hagens Berman is investigating whether the HPBoard of Directors is properly painting itself as a victim of the alleged fraud, or whether it failed to perform a full due diligence in examining Autonomy's financial information before acquiring the company. The investigation also focuses on the purported reasons for HP's write down.

"We question the due diligence performed by HP's Board," said Reed Kathrein, the Hagens Berman partner in charge of the investigation. "How could they miss a gap in the value of Autonomy by such a wide margin "

Following HP's acquisition of Autonomy in Aug. 2011, Oracle (News - Alert) (NASDAQ: ORCL) issued a statement confirming that Autonomy had been "shopped" to Oracle, but Oracle declined because the then market price for the company of $6 billion was "way too high."

Shareholders of HP are encouraged to contact Hagens Berman to discuss the investigation. Investors can contact Mr. Kathrein by calling 510-725-3000 or by emailing

The firm reminds whistleblowers with inside information that rewards may be available to individuals who report information leading to a successful enforcement action by the Securities and Exchange Commission.

"The Dodd-Frank Wall Street Reform and Consumer Protection Act provides for rewards totaling up to 30 percent of any successful recovery made by the SEC (News - Alert) for whistleblowers who provide original information," said Mr. Kathrein. "However, whistleblowers should be cautious and consult an experienced whistleblower attorney before taking action."

More information about this investigation is available at

About Hagens Berman

Hagens Berman Sobol Shapiro LLP is an investor-rights class-action law firm with offices in 10 cities. The firm represents whistleblowers, workers and consumers in complex litigation. More about the law firm and its successes can be found at The firm's securities law blog is at

[ Back To Cloud Contact Center's Homepage ]


Featured Resources

Featured Report
Millennial Research on Customer Service Expectations

Millennial Research on Customer Service Expectations

The "why" behind this research is simple: our clients recognize that different generations bring different expectations, varied communication preferences and new customer service patterns to the customer experience...
Featured Report
Optimizing the Customer Experience through Cloud Contact Centers

Optimizing the Customer Experience through Cloud Contact Centers

Adoption of cloud contact centers is on the rise. Findings from Aberdeen's January 2014 'Public Cloud vs. On-Premise: How to More Effectively Deploy a Cloud Center' study shows that 31% of contact centers are deployed in the cloud, and our related blog post highlights that companies anticipate their adoption of cloud technology to rise further throughout 2014...
Featured Report
Aberdeen report

Aberdeen Report: Cloud for Mid-Sized Contact Centers – What You Must Know

Cloud Technology is opening new doors for many businesses. However, it does so only when it's combined with the use of best practices and key technology enablers. This document highlights the adoption of cloud technology by mid-size contact centers and illustrates the reasons driving their investments...
Featured Whitepaper
Aberdeen report

Seven Critical Capabilities to Demand From Your Cloud Contact Center Provider

To deliver a world-class customer experience, your contact center must be flexible and reliable, while providing all the tools agents and supervisors need to manage their workflows. Here are seven critical capabilities to look for when deploying a contact center in the cloud...
Featured Webinar

Contact Center Economics and the Cloud

Together, Bob and Drew will help you understand the economic value of upgrading technology, important business and financial considerations, and how to compare total cost of ownership of a premises vs. cloud or hosted solution. Watch the webinar on-demand now...
Featured Datasheet
Zipwire Cloud Contact Center

Zipwire Cloud Contact Center

The appeal of moving services to the cloud is obvious. Cloud services offer reliability and robust feature sets without the need to implement or maintain complex contact center infrastructure. The Zipwire™ cloud-based contact center allows businesses to leverage the flexibility and cost savings of cloud architecture while offering a seamless, first-class customer experience...