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A company HP’s size is always fending off lawsuits, but the avalanche of shareholder suits flung at HP and its corporate execs since November is jaw-dropping all the same.Since HP announced that it would take an $8.8 billion write-down on its $11.1 billion acquisition of Autonomy in November, at least 10 new lawsuits have been filed, HP reported in its 10-K document filed to the SEC yesterday.
HP also disclosed in the 10-K report that the DOJ had agreed to look into the matter. If the DOJ finds mismanagement on HP’s part, that won’t help defend itself.
While these 10 suits have zeroed in on Autonomy, it wasn’t the only big write-down HP took this year. HP also wrote-down $1.2 billion of goodwill related to its $25 billion Compaq acquisition and wrote-down $8 billion in August from its $13.9 billion acquisition of EDS acquisition.