UPDATE 3-HP alleges Autonomy wrongdoing, takes $5 bln charge
HP takes charge for Autonomy software purchase. * HP refers matter to SEC, UK Serious Fraud Office. * Former Autonomy CEO calls allegations 'false'. By Poornima Gupta and Nicola Leske. Nov 20 (Reuters) - Hewlett-Packard Co on Tuesday took a massive ...www.reuters.com
HP jolted by $8.8 billion fraud
HP purchased British software firm Autonomy Corp. last year, then hired a forensic accounting firm to review the transaction after an Autonomy executive came forward to reveal the potential fraud, The New York Times reported. The executive came forward ...www.upi.com
UPDATE: Hewlett-Packard Claims Fraud at Autonomy, Takes Write-Down
SAN FRANCISCO--Hewlett-Packard Co. (HPQ) leveled serious accusations Tuesday against a software company it bought last year, saying it would take an $8.8 billion write-down, dropping the value of Autonomy Corp., after it claimed the company's ...www.automatedtrader.net
HP takes $8.8 bn hit, alleges accounting fraud in Autonomy
In what could be one of the biggest corporate frauds, HP today said it has taken a $8.8 billion 'charge' on Autonomy, the British software firm it had bought in 2011, as some former executives of the acquired company had wilfully misrepresented accounts.www.thehindubusinessline.com
HP: Accounting Fraud Isn't the Worst of It
Today, HP keeps the investor nightmare alive by simultaneously missing expectations and announcing an $8.8 billion charge on its $10.3 billion acquisition of U.K.www.fool.com
HP: Autonomy had 'serious accounting improprieties'
HP took a massive charge related to its purchase of Autonomy and indicated that it bought the company based on pumped up and fraudulent accounting. In its fourth quarter earnings report, HP recorded a charge of $8.8 billion in its software unit. Then ...www.zdnet.com
HP seeks fraud probe at British firm bought in 2011
... at Autonomy forced it to take a massive writedown, and that both US and British authorities should investigate the irregularities.www.google.com
Where Was HP's Management When The Autonomy Deal Was Being Done?
"Based on this information, HP initiated an intense internal investigation into the allegations, including a third party forensic review of Autonomy's historical financial results. HP has contacted the SEC's Enforcement Division and the UK's Serious ...www.businessinsider.com
H-P claims fraud at Autonomy
Hewlett-Packard levelled serious accusations on Tuesday against a software company it bought last year, saying it would take a $8.8bn writedown after it claimed Autonomy's leadership misrepresented its performance as the deal was being negotiated.www.efinancialnews.com
HP says acquired company lied about finances
CEO Meg Whitman avoided calling it a fraud, but said Tuesday that there were "serious accounting improprieties, disclosure failures and outright misrepresentations at Autonomy Corporation PLC." HP is taking a charge $8.8 billion charge to align the ...www.google.com
HP Takes $8.8 Billion Write Down Due to Fraud from Autonomy Acquisition
HP [NASDAQ:HPQ] today reported their earnings for the fourth fiscal quarter ending October 12th. This also wrapped up their results for the fiscal year of 2012.www.brightsideofnews.com
HP accuses Autonomy of lying over finances
In a statement today (November 20), the computer giant said that it has asked the US Securities and Exchange Commission's Enforcement Division and the UK's Serious Fraud Office to launch a civil and criminal investigation into the alleged malpractice.www.digitalspy.co.uk
HP's Autonomy Write-down: Avoidable, With Autonomy Software
The writedown comes after HP discovered what it says was "a willful effort on behalf of certain former Autonomy employees to inflate the underlying financial metrics of the company in order to mislead investors and potential buyers.blogs.wsj.com
HP alleges Autonomy wrongdoing, takes $5 billion charge
HP took $8.8 billion in charges in the fourth quarter, with $5 billion tied to the problems at Autonomy. HP said it has referred the matter to the U.S.money.msn.com
Autonomy Founder: HP's a Bunch of Lying Liars
It's a startling accusation, and implies depths of incompetence and fraud few would have thought even HP capable of. And yet!gizmodo.com
All the Bad News at Hewlett-Packard (HPQ) May Not Be Out Yet - Analyst
Though Lamba says the announcement isn't surprising, the "timing and potential for fraud and misrepresentation by the previous management team at Autonomy is concerning. The analyst said any fraudulent information should have been uncovered earlier ...www.streetinsider.com
HP Misses, Q4 2012 Revenue Down 7% To $30B, $6.9B Net Loss, $8.8B Write ...
Most of the bad news comes from a huge $8.8B write-down for $10.2 billion Autonomy acquisition due to accounting fraud. In its earnings document, HP cites "serious accounting improprieties, disclosure failures and outright misrepresentations." HP CEO ...techcrunch.com
Hewlett-Packard takes $8.8 bn hit after Autonomy lied about finances
Hewlett-Packard said it launched the internal investigation after a senior member of Autonomy came forward. The company has avoided calling it fraud, and said that the allegations are related to "disclosure failures" at Autonomy that happened before ...www.newstatesman.com
Mid-Day Market Update: Markets Sluggish; Groupon Continues Rally
Hewlett Packard (NYSE: HPQ ) reported earnings this morning, but what caught traders' attention was the $8.8 billion charge for a company it acquired called Autonomy. CNBC's David Faber came out with some comments alleging fraud, saying Autonomy ...community.nasdaq.com
Give full autonomy to central bank
This was what had happened in the case of the Tk 3,606 crore loan scam involving Sonali Bank, the Hall-Mark Group and five other companies, they said at a discussion organised by the Centre for Policy Dialogue (CPD) on governance of the banking centre ...www.thedailystar.net
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