HP's Autonomy deal, debacles many

Comments print
Agencies: Gaza city, Nov 21 2012, 11:49 IST
said Brian Quinn, an M&A professor at Boston College Law School. In those cases, plaintiff lawyers can sue third parties, such as auditors, on behalf of HP -- but they must convince a judge that HP's board is unfit to pursue those claims itself. In this

situation, though, HP's board disclosed the alleged fraud itself, Quinn said.Even if the bankers and lawyers escape any legal problems, they could suffer a reputational hit. The scrutiny could be particularly unwelcome for Perella Weinberg: the firm advised

Japanese camera maker Olympus' acquisition of British Gyrus -- a transaction that prompted investigations in the United States, United Kingdom and Japan into fees and payments made by Olympus.Olympus had hired Perella to execute the transaction, which according to Thomson Reuters M&A database resulted in record

bankers' fee of $687 million. Perella was not implicated in the matter.Meanwhile, the most controversial banker involved in the HP-Autonomy deal, Frank Quattrone of Qatalyst, represented Autonomy and played a key role in getting HP to pay a high

price.A star investment banker in the 1990s, Quattrone had worked at Morgan Stanley, Deutsche Bank and Credit Suisse, and helped arrange some of the biggest tech initial public offerings of the era, including Amazon.com Inc and Cisco Systems Inc.But his time at the top of Silicon Valley was curtailed by charges that he blocked an investigation into IPO kickbacks. After two trials failed to resolve his case, he ultimately reached a deal with prosecutors.His return to the Silicon Valley M&A scene has impressed many

... contd.

Ads by Google
   Previous | 1 | 2 | 3 | Next
Previous Story  Pakistan shunned Ajmal Kasab hanging letter: Govt Next Story  Israeli strike hits building housing AFP Gaza office
Reader's Comments| Post a Comment

Be the first to comment.

Post your Comment

Your email address will not be published. Required fields are marked *

Name *
Email *
Message *
 
captcha
please enter the above characters in the box below