£100m Claimed Launched Against Hewlett Packard
One thing that you always need to be on the lookout for when you are thinking of placing Binary Options trades on any company in any market sector, is whether there are any recently launched legal claims against those companies, for it could be the case the share values of such companies with a legal case pending are going to see a drop in their share value.
It will of course be the type and size of any legal claim that is going to determine if share values will move immediately once news of a legal court case is announced, and it is with that in mind we would like to draw your attention to a claim launched yesterday in the UK High Court again Hewlett Packard.
The court case revolves around Dr Mike Lynch who is alleging that Hewlett Packard have blackened his name by allegations of fraud, and he is demanding £100million in compensation relating to this alleged fraud allegation.
Lynch was the founder of a technology firm called Autonomy which Hewlett Packard purchased back in 2011 paying £7.1billion, but they claimed in another legal case that Lynch had masterminded a £3billion fraud whilst still working at Autonomy.
In fact this fraud resulted in Hewlett Packard writing down a whopping £5billion from the value of Autonomy once the accounting scandal had been discovered.
However, Lynch claimed that there was no such fraud and the write down was due solely to the mismanagement of Autonomy once Hewlett Packed took over the company, and it is for that reason he has chosen to launch is legal case against them.
Whether or not he will win his case or not, news that there is a potential payout of £100million is sure to have an effect of the value of Hewlett Packard shares until such a time that this case is settled and as such think long and hard when placing any trades on HP as the share price is likely to fluctuate for the very near future.
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