This article reviews the need-to-know points of law and practice surrounding shareholder claims relating to M&A transactions in United Kingdom (England & Wales).
In its long-awaited judgment, the English High Court1 has found that the British software firm Autonomy defrauded the US tech giant Hewlett-Packard (HP) and induced its own acquisition.
When Hewlett Packard acquired knowledge management software firm Autonomy, it didn’t realise it was buying into a multibillion accounting cover-up. Shareholders sued HP, and HP sued Autonomy CEO Mike Lynch. Here’s how it played out over the decades.