ACHIEVEMENTS

CASE
SUCCESSES

Kessler Topaz and PGGM Obtain $100 Million Recovery for Hewlett-Packard Investors

We served as sole lead counsel on behalf of Dutch National Pension fund PGGM Vermogensbeheer B.V. and a putative class of Hewlett-Packard Company (HP) investors, in an action against HP alleging that HP and its officers and directors made false and misleading statements relating to the $11 billion acquisition and value of Autonomy Corporation plc. PGGM alleged, on behalf of the putative class, that the defendants knew or should have known that Autonomy was worth considerably less than the purchase price, and that HP shareholders were harmed by the fraud.  After several years of hard-fought litigation and settlement negotiations, HP agreed to settle the matter for $100 million in cash. The settlement was approved by the Court on November 13, 2015. In approving the settlement, the Court complimented the terms of the settlement and PGGM's and KTMC's efforts, stating that KTMC “did a great job” and calling the settlement "an excellent resolution of this case" and "a very good result for their class."

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