Weekly Digital News Roundup: June 4 – June 8
Hewlett-Packard will pay $100 million to settle lawsuit tied to $10-billion Autonomy deal
- According to the LA Times, Hewlett-Packard’s ill-fated $10-billion acquisition of British software maker Autonomy Corp. is going to cost it even more money after it recently decided to settle a class-action lawsuit tied to the deal.
- The class action was brought on behalf of investors who were hurt after the company acquired Autonomy for $10 billion before writing down $8.8 billion related to the deal a year later. HP had said at the time of the write-down that it had been duped into overpaying for the acquisition. The $10-billion price tag was 11 times greater than Autonomy’s annual revenue of $870 million.
- The Palo Alto, Calif., company said it will pay $100 million into a settlement fund that will go to shareholders who bought HP shares between Aug. 19, 2011 and Nov. 20, 2012. The company said in a statement that even though it believes the lawsuit has no merit, “it is desirable and beneficial to H-P and its shareholders to settle the case as further litigation would be burdensome and protracted.”
ADP Sues Zenefits For Defamation, Rolls Out A Competing Service
- According to TechCrunch, Payroll giant ADP has filed suit in federal court against HR startup Zenefits and its founder Parker Conrad for defamation. ADP and Zenefits are locked in an on-going battle over client information used to run payroll. ADP claims Zenefits was gleaning this information from the ADP system in an unauthorized manner and that this posed a security risk. ADP blocked Zenefits from accessing customer data through ADP’s RUN payroll system on June 4th.
- Conrad dismissed the claim that the shutdown was for security reasons and said it had more to do with ADP recognizing the little upstart as a threat. ADP is within its rights as a company to block service or not work with whoever they choose and the company has partnered with numerous other third-parties to provide access to data. However, Conrad was adamant that the evidence of a competing product shortly after shutting off access for his customers was proof that this was a deliberate attempt to thwart his fast-growing and now highly-valued startup.
Tumblr’s New GIF Search Engine Takes The Pain Out Of Having To Use Actual Words
- According to Search Engine Land, because coming up with words can be so very difficult,Tumblr has added a GIF search engine to help users quickly locate an image that accurately expresses whatever it is they’re trying to write. Tumblr says once a GIF is selected, it will be properly credited and the original GIF creator will be notified via their dashboard, phone and any other platform set up to receive Tumblr notifications.
- According to a report, Tumblr is not relying on a third-party, but instead indexing GIFs that have been posted to the Tumblr platform. “That means Tumblr users should be able to surface GIFs using less common keywords than on some other search services, including via unique Tumblr slang, sayings and other abbreviations that members of the various fandoms on Tumblr use,” writes TechCrunch reporter Sarah Perez.
- With Tumblr’s more than 239 million blogs and more than 80 million daily posts, the site contains over 112 billion posts – many of which include GIFs that are now searchable.