According to the complaint filed on August 3, 2012, a securities fraud class action was brought on behalf of all persons who purchased the common stock of Hewlett-Packard Company ("HP" or the "Company") between November 13, 2007 and August 6, 2010, inclusive (the "Class Period") and held those shares as of the close of 8 trading on August 6, 2010. Prior to and throughout the Class Period, Defendants issued statements regarding ethical standards with which HP employees and officers needed to comply. HP issued a Standards of Business Conduct Brochure (SBC) in 2006, May 2008 and June 2010.
Throughout the Class Period, HP made statements that were false and misleading due to their failure to disclose knowing violations by CEO Mark Hurd ("Hurd") of HP's Standards of Business Conduct. On August 6, 2010, the company disclosed Hurd's violations and the fact that Hurd resigned as a result. These disclosures caused HP's stock price to decline.
On November 9, 2012, the Court issued an Order appointing lead plaintiff and approving the selection of lead counsel. On December 24, lead plaintiff filed an amended complaint.
On August 9, 2013, the Court issued an Order granting defendants' motions to dismiss. Plaintiffs were given leave to file an amended complaint. On September 9, 2013, the plaintiffs filed their Second Amended Complaint.
On June 25, 2014, the Court issued an Order granting defendants' motion to dismiss. Plaintiffs were not given leave to amend.