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A little more on H-P (HPQ): The company alleges Autonomy was responsible for $5B worth of...

A little more on H-P (HPQ): The company alleges Autonomy was responsible for $5B worth of pre-merger "accounting improprieties, disclosure failures and outright misrepresentations." A senior Autonomy exec is said to have come forward after founder/CEO Mike Lynch was fired in May, after which H-P contacted the SEC. This could get ugly. The PC division's operating margin fell to 3.5% from FQ3's 4.7%, though services and printing margins rose, aided by job cuts. $124M in shares repurchased. Shares -11.1%. The CC is underway (webcast, live blog) (FQ4: I, II)

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Comments (6)
  • TwistTie
    , contributor
    Comments (2476) | Send Message
     
    What is the point of this?

     

    Could HP get their money or stock back?

     

    I don't know, I'm asking.
    20 Nov 2012, 01:08 PM Reply Like
  • Whitehawk
    , contributor
    Comments (3129) | Send Message
     
    Kudos to Chanos.
    20 Nov 2012, 02:27 PM Reply Like
  • kickshark
    , contributor
    Comments (31) | Send Message
     
    HP deal would have burned his shorts last year. His call was right but did he make money out of it?
    20 Nov 2012, 02:37 PM Reply Like
  • Stone Fox Capital
    , contributor
    Comments (7017) | Send Message
     
    Actually just makes HPQ look even worse. Didn't HPQ pay stock for the deal? If anything, Autonomy shareholders should sue HPQ for fraud based on its inflated stock price at that point.
    20 Nov 2012, 02:29 PM Reply Like
  • captiankirkoptions
    , contributor
    Comments (213) | Send Message
     
    HPQ management not listening to CFO - almost always a bad call.
    20 Nov 2012, 03:14 PM Reply Like
  • User 13262982
    , contributor
    Comment (1) | Send Message
     
    Didn't HP do the same thing with EDS?
    25 Sep 2013, 11:19 AM Reply Like
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