A U.S. appeals court on Tuesday revived a lawsuit alleging HP Inc defrauded shareholders by secretly using unprofitable tactics to boost sales of its printing supplies in 2015 and 2016.
defrauded shareholders by secretly using unprofitable tactics to boost sales of its printing supplies in 2015 and 2016.
Darren Robbins, an attorney for the pension fund leading the case, said the opinion will help investors. The SEC said HP did not timely disclose to investors how these practices, which occurred in 2015 and 2016, were reducing margins and boosting inventories at the Palo Alto, California-based technology company.Investors sued weeks after the SEC settlement, alleging HP and its top executives defrauded investors by hiding the impact of the practices until 2016.
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