Federal Contractor Misconduct Database (FCMD)
Gammel v. Hewlett-Packard (Shareholder Lawsuit)
Hewlett-Packard shareholders alleged that former CEO Leo Apotheker made misleading statements in 2011 regarding the company’s plans to put webOS (a mobile device operating system) on computers and printers. As a result, the plaintiffs claimed that HP’s stock fell by nearly 25 percent in August 2011, wiping out more than $16 billion in shareholder value. In March 2014, Hewlett-Packard settled the lawsuit for $57 million.
- Misconduct Type
- Enforcement Agency
- Contracting Party
- Court Type
- Date of Original Complaint