HP claims fraud prompted $5B overpayment for co.
NEW YORK - Hewlett-Packard Co. said on Tuesday that it's the victim of a $5-billion-plus fraud, claiming a British company it bought last year lied about its finances.www.huffingtonpost.com
Ex-Autonomy CEO 'Flatly-Rejects" HP Fraud Charges
LONDON (Reuters) - Mike Lynch, the former chief executive of Autonomy, on Tuesday "flatly rejected" allegations made by the company's new owner Hewlett Packard regarding "serious accounting improprieties". In a brief statement released to Reuters, ...www.huffingtonpost.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
HP says fraud prompted $5B overpayment for co.
NEW YORK (AP) - Hewlett-Packard Co. said on Tuesday that it's the victim of a $5-billion-plus fraud, claiming a British company it bought last year lied about its finances.www.businessweek.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 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 seeks fraud probe at British firm bought in 2011
SAN FRANCISCO - Hewlett-Packard called Tuesday for a probe into "willful" financial misstatements by Autonomy, a British software firm it bought for over $10 billion, which HP now says was overvalued. HP's share price tumbled 10.7 percent to $11.87 in ...www.google.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 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
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.gizmodo.com
HP shares sink as accounting 'fraud' surfaces
HP is avoiding calling it a fraud, but said on Tuesday that there were "serious accounting improprieties, disclosure failures and outright misrepresentations at Autonomy Corporation PLC." HP is taking an $8.8 billion charge in its latest quarter to ...timesofindia.indiatimes.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'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
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
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 slumps on Autonomy scandal before the bell
The company today took a huge write-down at recent UK acquisition Autonomy and accused previous management of fraudulent accounting and a "wilful effort" to mislead investors and potential buyers. HP took a US$8.8bn charge related to software group ...www.proactiveinvestors.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
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
All the Bad News at Hewlett-Packard (HPQ) May Not Be Out Yet - Analyst
Mizuho's Abhey Lanba commented that all the bad news at H-P "might not be out yet," following disclosure of accounting fraud at Autonomy leading to an $8.8 billion charge. Though Lamba says the announcement isn't surprising, the "timing and potential ...www.streetinsider.com
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