HP takes $8.8 billion charge over Autonomy "improprieties"

Hewlett-Packard took an $8.8 billion charge citing “a wilful effort to mislead investors” at Autonomy, the software company it agreed to purchase last year for $10.3 billion.

20th November, 2012
HP takes $8.8 billion charge over Autonomy "improprieties"
HP chief executive Meg Whitman.

Hewlett-Packard took an $8.8 billion charge citing “a wilful effort to mislead investors and potential buyers” at Autonomy, the software company it agreed to purchase last year for $10.3 billion.

“HP is extremely disappointed to find that some former members of Autonomy’s management team used accounting improprieties, misrepresentations and disclosure failures to inflate the underlying financial metrics of the company, prior to Autonomy’s acquisition by HP,” Palo Alto, California-based Hewlett-Packard said today in a statement....

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