Comments
yourfanat wrote: I am using another tool for Oracle developers - dbForge Studio for Oracle. This IDE has lots of usefull features, among them: oracle designer, code competion and formatter, query builder, debugger, profiler, erxport/import, reports and many others. The latest version supports Oracle 12C. More information here.

2008 West
DIAMOND SPONSOR:
Data Direct
SOA, WOA and Cloud Computing: The New Frontier for Data Services
PLATINUM SPONSORS:
Red Hat
The Opening of Virtualization
GOLD SPONSORS:
Appsense
User Environment Management – The Third Layer of the Desktop
Cordys
Cloud Computing for Business Agility
EMC
CMIS: A Multi-Vendor Proposal for a Service-Based Content Management Interoperability Standard
Freedom OSS
Practical SOA” Max Yankelevich
Intel
Architecting an Enterprise Service Router (ESR) – A Cost-Effective Way to Scale SOA Across the Enterprise
Sensedia
Return on Assests: Bringing Visibility to your SOA Strategy
Symantec
Managing Hybrid Endpoint Environments
VMWare
Game-Changing Technology for Enterprise Clouds and Applications
Click For 2008 West
Event Webcasts

2008 West
PLATINUM SPONSORS:
Appcelerator
Get ‘Rich’ Quick: Rapid Prototyping for RIA with ZERO Server Code
Keynote Systems
Designing for and Managing Performance in the New Frontier of Rich Internet Applications
GOLD SPONSORS:
ICEsoft
How Can AJAX Improve Homeland Security?
Isomorphic
Beyond Widgets: What a RIA Platform Should Offer
Oracle
REAs: Rich Enterprise Applications
Click For 2008 Event Webcasts
SYS-CON.TV
Today's Top SOA Links


Law Offices of Jon C. Furgison Files Notice of Shareholder Class Action Against Hewlett-Packard Co., Alleging Securities Fraud Related to HP 2011 Acquisition of Autonomy And Public Statements Regarding Its Integrity Servers

HERMOSA BEACH, Calif., Jan. 18, 2013 /PRNewswire/ -- The Law Offices of Jon C. Furgison today announced a shareholder class action filing against Hewlett-Packard Company alleging securities fraud in connection with the company's 2011 acquisition of Autonomy Corporation, plc.

The lawsuit, filed in U.S. District Court for the Northern District of California, and entitled Neumann v. Hewlett-Packard Company, et al., was brought on behalf of purchasers of HP common stock (NYSE: HPQ) during the period between February 20, 2008 and November 20, 2012. Motions for lead plaintiff for this action are due in Court no later than January 25, 2013.

Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Should members of the putative class have questions concerning their rights and interests, they may contact plaintiff's counsel at (310) 356-6890.

On August 18, 2011, HP announced that it had agreed to purchase Autonomy, a British company that supplies software that analyzes unstructured data, such as emails, online videos and web-surfing, for patterns. HP paid approximately $11.1 billion to acquire Autonomy. At the time of the purchase, Hewlett-Packard insiders touted the deal's potential for substantial synergistic effects that would prove profitable for the company. According to the complaint, HP and its insiders continued to make public statements about the benefits of the Autonomy purchase throughout 2012.

According to the complaint, HP knew at the time it made its statements that it had vastly overpaid for Autonomy and that the purported synergistic benefits would never materialize. As widely reported, the company was forced to take an $8.8 billion write down related to its acquisition of Autonomy, which it announced on November 20, 2012.

The complaint also alleges a fraudulent scheme by Hewlett-Packard and certain insiders from at least February 20, 2008 until the present, concerning one of its most profitable products, its proprietary Integrity servers. These servers are sold primarily to HP's largest corporate customers and typically carry high profit margin service contracts – in some years the Integrity servers have accounted for as much as 15% of profits.

According to the complaint, beginning in early 2008, HP learned that the Integrity servers were facing obsolescence. The servers run on the Itanium chip, manufactured by Intel Corporation. The complaint notes that without the Itanium chip, HP could not sell the Integrity servers, and its high-profit service agreements would be wiped out. At some point prior to February 2008, Intel told HP that it wished to stop making the Itanium chips, because they were no longer profitable for Intel. According to the complaint, HP, facing massive losses in profits, secretly agreed to pay Intel millions of dollars – just so that it would agree to continue to make the Itanium chips. These payments served no purpose other than to convince Intel to continue to make the chips and the agreement was a closely-guarded secret of the Company, the complaint alleges. At the same time it knew its Integrity servers were facing obsolescence, HP continued making statements, which the Complaint alleges to be false, regarding the long-term viability of those servers.

Shareholders allege that the frauds associated with the Autonomy acquisition and the Integrity servers have had a severe effect on HP's stock. From February 20, 2008 until November 20, 2012, when the public finally knew the truth about the two events, HP's market capitalization declined from $117 billion to $23 billion, a loss of $94 billion. It had traded as high as $54.52 at one point during the class period, and it closed at $11.71 on November 20, 2012.

Plaintiff Paul Neumann seeks to recover damages on behalf of all purchasers of HP common stock during the Class Period.

Contact: Jon C. Furgison
Law offices of Jon C. Furgison
310-356-6890 jonfurg@gmail.com

SOURCE Law Office of Jon C. Furgison

About PR Newswire
Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Web 2.0 Latest News
Hortonworks went through an IPO last Friday, December 12, 2014. It’s initial price of $16 soared by 60% immediately after. Today the stock price is $24.70 with a market cap of $1.02B. Another billion dollar club member. They compete with Cloudera and MapR in packaging the open source H...
The illustration in the beginning of this post depicts the Internet of Things (IOT). You can guess (correctly) that I think that this technology is significant and important. In my opinion it is a revolution. I do not know if IDC's Internet of Things prediction is right for 2015, bu...
Large technology manufacturers that focus on channel sales through distributors and resellers have traditionally operated with informal processes, using tools like spreadsheets and information driven by anecdotal stories from channel partners, unstructured data, and the "gut instinct" ...
At the onset of 2015 it seems that Business Intelligence software has become a nearly consensual part of any data-driven organization. Today companies large and small are realizing, more than ever, that "data is power", and that harnessing this power requires the right tools for the jo...
"The year ahead brings accelerated disruption, as those technologies which we spoke about last year as being emergent -- have now begun to evolve to practical application," stated Puneet Gupta, Brillio's Chief Technology Officer. "We are seeing the industry's rapid adoption of next-gen...
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
Click to Add our RSS Feeds to the Service of Your Choice:
Google Reader or Homepage Add to My Yahoo! Subscribe with Bloglines Subscribe in NewsGator Online
myFeedster Add to My AOL Subscribe in Rojo Add 'Hugg' to Newsburst from CNET News.com Kinja Digest View Additional SYS-CON Feeds
Publish Your Article! Please send it to editorial(at)sys-con.com!

Advertise on this site! Contact advertising(at)sys-con.com! 201 802-3021




SYS-CON Featured Whitepapers
ADS BY GOOGLE