Securities Lawsuit Investigation | Naples, Florida, Orlando, Miami, Jacksonville and Tampa | Company: Hewlett-Packard Co. | For: Misleading Sales Forecasts, Failure to Disclose Information, Artificially Inflated Stock Prices
Gilman Law LLP, a leading Naples, Florida, securities law firm, is now accepting claims for lawsuits on behalf of investors in Hewlett-Packard Co. (“HP”). The firm is actively investigating shareholder claims that HP and certain of its officers and directors violated the Securities Exchange Act of 1940 by failing to disclose material information to the investing public. The firm is currently offering free legal evaluations to all Florida HP investors, including those in the Naples, Orlando, Miami, Jacksonville and Tampa areas.
For over 40 years, Gilman Law has represented investors in all major aspects of securities fraud litigation, including stock manipulation, securities fraud, and shareholder rights violations. The firm’s Naples office is offering free legal consultations to investors from throughout Florida, including Naples, Orlando, Miami, Jacksonville, and Tampa. If you purchased or otherwise acquired shares of Hewlett-Packard Company (NYSE: HPQ), during the period between November 22, 2010 and August 18, 2011, and either lost money on the transaction or still hold the shares, you must contact Gilman Law LLP no later than November 14, 2011 in order to exercise your legal rights against HP.
HP Class Action Lawsuit Allegations
HP is a provider of products, technologies, software, solutions, and services to individual consumers, small-and medium-sized businesses and large enterprises, including customers in the government, health and education sector. The Company has been named in a Class Action lawsuit in the United States District Court for the Central District of California on behalf of purchasers of the common stock of Hewlett-Packard Co. According to the complaint, Defendants failed to disclose material information to the investing public that HP’s business model was not working, as the Company was unable to leverage its extensive portfolio and scale of products and services in a strategically beneficial manner.
According to the lawsuit failed to disclose that:
WebOS, the TouchPad and the PC business were not central to HP’s business model and webOS would not be integrated across the Company’s entire product line.
The TouchPad hardware was inefficient, limiting the degree of effectiveness of the webOS operating system.
Defendants lacked a reasonable basis for their positive statements about HP’s turnaround, revenue growth rates, market share, new product introductions, diluted EPS, and the Company’s ability to deliver upon its long-term growth model.
According to the complaint, Defendants repeatedly assured investors that HP has a unique position in the market to expand and they were confident in their ability to deliver their revenue outlook for the fiscal year 2011. The Company’s misleading sales projections in combination with its failure to disclose negative business trends, led to artificially inflated prices during the Class Period, reaching a high of $48.99 per share on February 16, 2011. When the Company issued disappointing third quarter fiscal 2011 financial result and issued revised guidance for fiscal year 2011, HP’s stock declined $1.88 per share, to close at $29.51 per share.
Legal Help for HP Shareholders
Gilman Law has extensive experience representing both individual and institutional investors in securities class action suits, and has recovered over a billion dollars for its clients. We are ready to assist Florida investors who have sustained losses as a result of HP’s fraudulent practices. For a free evaluation of your case or to obtain additional information, please fill out the form on the left or CALL TOLL FREE (888) 252-0048.