The Traderszone Network

Published in TZ Latest News 25 September, 2015 by The TZ Newswire Staff

Autonomy’s Lynch says report shows HP not hoodwinked on $11 billion deal

Hewlett-Packard Co was made aware of practices at Autonomy, including hardware sales and growth rates boosted by different accounting rules, before it bought the firm for $11 billion in an ill-fated deal, according to founder Mike Lynch. HP is suing Lynch, and former Autonomy finance director Sushovan Hussain, in London for damages of about $5.1 billion for their management of Autonomy, alleging they engaged in fraudulent activities to boost the value of the company.

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