HP’s War of Words Escalates With Autonomy’s Founder
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Hewlett-Packard Co. and the founder of the software company it accused of accounting misstatements escalated a war of words over who is to blame for an $8.8 billion writedown.
Former Autonomy Corp. Chief Executive Officer Mike Lynch, in an open letter, challenged Hewlett-Packard’s board to explain allegations that former Autonomy managers misled investors and prospective acquirers with falsified statements. Hewlett-Packard, which bought Autonomy last year, rejected the request, saying it has uncovered extensive evidence of improper bookkeeping and that it’s leaving the matter with government officials.