HP has settled its securities lawsuit with Autonomy and will pay $100 million to a settlement fund.
HP, which bought Autonomy for $11 billion in 2011, saw the company ‘s value drop by $8.8 billion, with HP accusing the company of improperly reporting $709 million in revenue over 2 ½ years before the purchase.
The lead plaintiff, PGGM Vermogensbeheer BV had led the lawsuit on behalf of investors in the wake of the write-down.
The $100 million settle fund will be available to anyone who bought HP shares between the 19th August 2011, to 20th November 2012.
HP wrote on its site: "No individual is contributing to the settlement. HP and its current and former officers, directors, and advisors will be released from any Autonomy-related securities claims as part of the settlement."
The settlement, which is still subject to court approval, is one of three investor lawsuits related to the purchase.
HP said: "While HP believes the action has no merit, it is desirable and beneficial to H-P and its shareholders to resolve…the case as further litigation would be burdensome and protracted."
