HP accuses Autonomy boss of fraud

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Nick Huber
Freelance journalist
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HP says Autonomy's founder and former boss Michael Lynch "should be held accountable for fraud" over HP's takeover of Autonomy in 2011.

The comments are the latest development in a long and bitter legal dispute between the two software companies.

A spokesman representing Lynch called the comments a "personal smear", the BBC reported.

HP paid $11.1bn (£6.8bn) for Autonomy, a British software company, but a year later said it was worth $8.8bn less.

HP and its shareholders have accused Autonomy of misleading them over the true value of the company, but Autonomy has denied this.

The latest court document HP also claims that Sushovan Hussain, who was the chief financial officer at Autonomy from 2001 to 2012, was "one of the chief architects of the massive fraud on HP", the BBC reported.

The court filing also said that shareholders and HP management agree "that Hussain, along with Autonomy's founder and CEO, Michael Lynch, should be accountable for this fraud".

HP shareholders had planned to sue the company’s management over the takeover but in June decided to help HP pursue legal action against Autonomy.

A spokesperson representing Lynch and Hussain told the BBC: "This breathless ranting from HP is the sort of personal smear we've come to expect. As the emotional outbursts go up, the access to facts seems to go down."


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