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Autonomy founder Mike Lynch fires another broadside at H-P (HPQ) in response to the IT giant's...

Autonomy founder Mike Lynch fires another broadside at H-P (HPQ) in response to the IT giant's 10-K, in which H-P disclosed it has shared info with U.S. and U.K. authorities about Autonomy's alleged accounting fraud. Lynch points out the 10-K provides no detail on how much of H-P's $5.7B Autonomy write-down is tied to accounting issues, and fails to reiterate, never mind expound upon, accusations Autonomy's management was responsible. H-P responds by suggesting its stance hasn't changed. (previous: I, II)
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Comments (2)
  • TippingPoint
    , contributor
    Comments (164) | Send Message
     
    Mike Lynch will soon get a chance to stop issuing press releases and instead tell everything he knows to some FBI agents. Better buckle up Mike, you could be in for a rough ride.
    28 Dec 2012, 06:59 PM Reply Like
  • davidbdc
    , contributor
    Comments (3184) | Send Message
     
    I think its going to be more complicated than that. I believe his firm was British and the accounting laws are different. There is no reason he would be responsible for explaining to HP any negative potential for the firm once it was part of an American firm.

     

    To me the real scandal is that anyone at HP involved with the deal is still employed!! Where is the responsibility?

     

    He's fired back pretty effectively IMO - tough to believe that 80% of a business can be written off after one year. More likely he just took the HP executives to the cleaners in the negotiations - no law against that.
    28 Dec 2012, 07:31 PM Reply Like
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