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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)
Comments (6)
  • 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
  • Kudos to Chanos.
    20 Nov 2012, 02:27 PM Reply Like
  • 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
  • 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
  • HPQ management not listening to CFO - almost always a bad call.
    20 Nov 2012, 03:14 PM Reply Like
  • Didn't HP do the same thing with EDS?
    25 Sep 2013, 11:19 AM Reply Like
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