Tags: hewlett | H-P | Autonomy | Probe

H-P Says Justice Department Opens Autonomy Probe

Thursday, 27 Dec 2012 07:32 PM

 

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Hewlett-Packard Co. said the U.S Justice Department opened an investigation relating to Autonomy Corp., the software maker accused of misrepresenting its performance before being bought last year.

Representatives from the Justice Department told Hewlett-Packard on Nov. 21 that an investigation had been opened, Palo Alto, California-based Hewlett-Packard said Thursday in its annual 10-K regulatory filing with the U.S. Securities and Exchange Commission. The company also said it’s facing several shareholder lawsuits related to the purchase of Autonomy.

Michael Thacker, a spokesman for Hewlett-Packard, declined to comment beyond details in the filing.

Chief Executive Officer Meg Whitman said on Nov. 20 that misrepresentations by Autonomy caused Hewlett-Packard to value Autonomy incorrectly, leading to a $8.8 billion writedown. Of that, $5 billion came from improperly booked sales, Hewlett- Packard had said.

Mike Lynch, the former chief executive officer of Autonomy, has denied wrongdoing and said on Dec. 21 that he expected Thursday’s filing to shed more light on the accusations.

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