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HP offers $57M settlement in WebOS class action suit

Apr 1 2014, 2:05pm CDT | by , in News | Technology News

HP offers $57M settlement in WebOS class action suit
the Verge
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Court will have to approve the settlement before HP can put this behind it

HP has been in the middle of fighting a class action suit brought against it by some if its investors. The investors included in the case are mostly institutional investors that were angry at how HP handled WebOS. The crux of the issue for the investors is that HP spent a huge sum of money to buy Palm just to get WebOS and talked up how it would flood the market with hardware running the OS.

HP then launched one product, pulled it off the market quickly, and then sold WebOS. The investors claimed that HP publically talked up its plans to make WebOS big and then privately worked other plans. HP has now made an offer to settle the class action and the offer is huge reports The Verge.

HP has offered to pay $57 million to settle the suit. The offer has to be approved by the court. It's unknown when the courts will approve the offer. Until the court makes the decision, the $57 million has been placed into an interest-bearing account to sit until the courts give the final approval or denial.

 

HP sold WebOS to LG and LG plans to use the operating system in a line of SmartTVs. In fact, the first of these TVs was seen at CES 2014 earlier this year. The history of WebOS tells us that chances are the Os will fail again. WebOS has yet to find a market where it can compete with other software out there.

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