HP Investor Sues Whitman, Board Alleging Mismanagement

Hewlett-Packard (HPQ) CEO Meg Whitman, the company’s board and former CEO Leo Apotheker, were sued by an investor alleging that mismanagement and botched acquisitions have destroyed shareholder value.

Executives have failed “in their most fundamental stewardship responsibilities owed to HP,” resulting in a series of mishaps including bribery probes, the hiring and firing of Apotheker and an $8.8 billion writedown in 2012 of the Autonomy Corp. acquisition, shareholder A.J. Copeland said in a complaint in federal court in San Francisco.