Date: Wednesday April 12, 2023 03:56:00 pm
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Investors sued HP alleging securities fraud in 2020. Parties began settlement talks after investors appealed. HP Inc. and investors convinced a federal judge to preliminarily approve a $10.5 million settlement to end claims the technology company misled them over its revenue estimation model. “I think this is an excellent resolution of a challenging issue,” said Judge Susan Illston, of the US District Court for the Northern District. Litigation has been ongoing for over three years. The investors alleged the tech company misled them about a revenue prediction model, which resulted in the company stock being artificially inflated.
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