Hagens Berman Advances Investigation of Hewlett-Packard, Reminds Investors 33 Days Remain Before Deadline to File to Be Lead Plaintiff
SAN FRANCISCO, Oct. 12, 2011 /PRNewswire/ -- Hagens Berman, a securities law firm, is reminding investors who purchased stock of Hewlett-Packard Company (NYSE: HPQ) ("HP") between Nov. 22, 2010, and Aug. 18, 2011 (the "class period") that only 33 days remain before the Nov. 14, 2011, deadline to move to be a lead plaintiff.
Investors who purchased HP common stock during the class period, and who have lost in excess of $300,000, and would like to be a lead plaintiff are encouraged to contact the firm by calling Partner Reed R. Kathrein at (510) 725-3000 or by email at [email protected]. More information is available at www.hbsslaw.com/HPQ.
The complaint alleges that former CEO Leo Apotheker and Chief Financial Officer Catherine Lesjak made false and misleading statements to investors by presenting WebOS and the PC business as central pieces of HP's business model. On March 14, 2011, Mr. Apotheker said at a press conference that "The Touchpad will come out in June and from that day onwards there will be wave after wave of technology coming out to support the WebOS platform." On June 2, 2011, Mr. Apotheker said at a conference that "WebOS is ready for prime time" and that "We are all about WebOS."
However, on Aug. 18, 2011, HP announced it would end production of WebOS devices, including its HP Touchpad tablet. HP also stated that it was considering spinning off its home PC business.
Hagens Berman is investigating whether and when the HP executive team began internal deliberations concerning their commitment to the home PC business, as well as its plans for WebOS devices, following the company's Aug. 18, 2011, announcement. Persons with knowledge of the above are encouraged to contact the firm.
The SEC recently finalized new rules as part of its implementation of the whistleblower provisions in the Dodd-Frank Wall Street Reform Bill. The new rules protect whistleblowers from employer retaliation and allow the SEC to reward those who provide information leading to a successful enforcement with up to 30 percent of the recovery.
Seattle-based Hagens Berman Sobol Shapiro LLP is a class-action law firm with offices in 10 cities. The firm represents whistleblowers, investors, workers and consumers in complex litigation. More about the law firm and its successes can be found at www.hbsslaw.com. The firm's securities law blog is at www.meaningfuldisclosure.com.
Media Contact: Mark Firmani, Firmani + Associates Inc., 206.443.9357 or [email protected]
SOURCE Hagens Berman
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