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CalPERS urges judge to reject settlement in HP/Autonomy case


    SAN FRANCISCO (Reuters) - The California Public Employees' Retirement System has asked a U.S. judge to reject a proposed settlement between Hewlett-Packard Co and shareholders over the computing giant's botched acquisition of Autonomy Plc.

    In a letter to U.S. District Judge Charles Breyer dated Tuesday, CalPERS said the proposed civil settlement would leave shareholders "in the dark" on the amount of fees plaintiff attorneys would recover.

    HP announced a $8.8 billion writedown in November 2012, just over one year after buying Autonomy, and linked more than $5 billion to accounting fraud and inflated financials by Autonomy executives. The British company and its executives have denied any wrongdoing.

    (Reporting by Dan Levine; Editing by Jeffrey Benkoe)