HP must face shareholder lawsuit over sales, appeals court rules

A US appeals court on Tuesday revived a lawsuit alleging HP Inc defrauded shareholders by secretly using unprofitable tactics to boost sales of its printing supplies in 2015 and 2016.

The 9th US Circuit Court of Appeals reversed a judge’s ruling dismissing the lawsuit as filed too late. Investors say they did not discover the alleged fraud until the US Securities and Exchange Commission fined HP $6 million over its sales practice disclosures in September 2020.