HP Sued By Shareholder Over Death Of WebOS

People will sue for any reason these days. Richard Gammell who is a HP shareholder has filed a class-action lawsuit against HP. Why do you ask? He’s suing because HP killed WebOS:

Shareholder Richard Gammel accuses the world’s largest technology company of concealing the fact that its existing business model was not working and that webOS — the operating software it inherited after buying Palm — was no longer central to its business model.

Charming. Gammell argues that HP’s actions inflated HP’s share price. Thus he is seeking damages for any HP investor who purchased stock between November 22, 2010 and August 18th, 2011.

Excuse me for being naive, but I always thought that the stock market was the place where you pay your money and you took your chances? Perhaps I was wrong about that. In any case, I don’t see how this lawsuit is going to succeed unless this guy knows something the rest of us don’t.

 

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