PALO ALTO, Calif. (AP) — Hewlett-Packard’s ill-fated purchase of software maker Autonomy will cost another $100 million, as the personal computer and printer maker prepares to settle class-action litigation tied to the 2011 deal.
HP says it will pay the money to a settlement fund to resolve a lawsuit stemming from an impairment charge HP took after paying $10 billion for the British company. The money will go to people who bought HP shares between Aug. 19, 2011 and Nov. 20, 2012.
Hewlett-Packard Co. says the litigation has no merit, but it wanted to avoid a protracted legal battle.
The Palo Alto, California, company wound up writing off much of the purchase price for Autonomy and has alleged that the software maker misrepresented its true value during negotiations, a claim Autonomy’s founder has denied.
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