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The Briscoe Law Firm and Powers Taylor, LLP Announce Investigation of Hewlett-Packard Company

^{Published on 2011-09-14 10:56:56 - Market Wire}
 

DALLAS--([ BUSINESS WIRE ])--Former United States Securities and United States Securities and Exchange Commission attorney [ Willie Briscoe ], founder of [ The Briscoe Law Firm, PLLC ], and the securities litigation firm of [ Powers Taylor, LLP ] announce that the firms are investigating legal claims against the officers and Board of Directors of the Hewlett-Packard Company (aHewlett-Packarda or aHPa) (NYSE: HPQ) related to potentially misleading statements issued by Hewlett-Packard between November 22, 2010 and August 18, 2011 (the aClass Perioda).

If you are an affected investor and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at [ patrick@powerstaylor.com ], or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at [ WBriscoe@TheBriscoeLawFirm.com ]. There is no cost or fee to you.

It has been alleged that during the Class Period, HP and certain of its officers and directors made materially false and misleading statements or failed to disclose material information related to the companya™s business and operations in violation of the Securities Exchange Act of 1934. Specifically, it is claimed that HP and the other defendants misrepresented and/or failed to disclose the following adverse facts: (a) HPa™s business model was not working because the company was unable to leverage its extensive portfolio and scale of products and services in a strategically beneficial manner; (b) webOS, the TouchPad and the PC business were not central to HPa™s business model and webOS would not be integrated across Hewlett-Packarda™s entire product line; (c) the TouchPad hardware was inefficient, limiting the degree of effectiveness of the webOS operating system; and (d) based on the foregoing, defendants lacked a reasonable basis for their positive statements about HPa™s turnaround, revenue growth rates, market share, new product introductions, diluted EPS, and the companya™s ability to deliver upon its long-term growth model. As a result of these alleged false statements, HPa™s stock traded at artificially inflated prices during the Class Period, reaching a high of $48.99 per share on February 16, 2011.

[ The Briscoe Law Firm, PLLC ] is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

[ Powers Taylor, LLP ] is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.