HP says that it overpaid for Autonomy after management lied about its finances

HP says that it overpaid for Autonomy after management lied about its finances

thenextweb.com
New HP was misled into overvaluing Autonomy when it acquired the software firm last year, the company revealed while disclosing its quarterly earnings today. As a result, it announced a non-cash impairment charge of $8.8 billion, of which it says that “more than $5 billion is linked to serious accounting improprieties,...
HP says that it overpaid for Autonomy after management lied about its finances
                                       

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HP Is Asking For A 'Criminal' Investigation To Shady Accounting From The Company It Bought For $10 Billion (HPQ)

www.businessinsider.com
New The HP disaster got even more disaster-y this morning when it announced an $8.8 billion writedown due largely to accounting fraud at Autonomy, which it bought for $10.2 billion last year. And it sounds like the writedown is just the beginning of this Autonomy story. On the earnings call, CEO...
HP Is Asking For A 'Criminal' Investigation To Shady Accounting From The Company It Bought For $10 Billion (HPQ)

Hewlett-Packard accuses Autonomy of lying about finances during acquisition

www.guardian.co.uk
New HP takes $8.8bn writedown and calls on British and US authorities to investigate 'serious accounting improprieties'Hewlett-Packard has revealed that it has taken an $8.8bn (£5.5bn) charge after "serious accounting improprieties" were discovered at Autonomy, the British tech firm it acquired in 2011 for more than $10bn.The Silicon Valley giant called...
Hewlett-Packard accuses Autonomy of lying about finances during acquisition

HP: 'Autonomy misled on finances'

www.bbc.co.uk
New Computer maker Hewlett Packard asks US and UK authorities to investigate alleged misrepresentations of Autonomy's finances before HP took over the UK software group last year....
HP: 'Autonomy misled on finances'

HP requests fraud investigation into Autonomy claims

gigaom.com
New Hewlett Packard CEO Meg Whitman said “outright misrepresentations” about the state of Autonomy’s financial health led to HP overpaying for that company last year and Whitman is recommending civil and criminal investigations into that issue. HP took a loss of $6.85 billion ($3.49 per share) for the year ending Oct....
HP requests fraud investigation into Autonomy claims
HP says it had to write off $8.8 billion in Q4 because acquired IT company lied about its books

Liveblogging HP's Q4 Earnings Call

allthingsd.com
Just joining the HP conference call already in progress. Already the news is amazingly bad, and the shares are hitting lows not seen since 2002, and if they go much lower we’ll be looking at levels not seen since 1994. 5:13 am: Meg Whitman is speaking about Autonomy. She just...
Liveblogging HP's Q4 Earnings Call
HP reports $8.8 billion 'impairment charge' due to allegedly fraudulent Autonomy accounting

HP Misses, Q4 2012 Revenue Down 7% To $30B, $6.9B Net Loss, $8.8B Write-Down For Autonomy Acquisition

techcrunch.com
HP’s earnings for Q4 ending on October 31 show a gloomy quarter. Revenue is down 7 percent to $30 billion compared to Q4 2011. But the real problem comes from GAAP net income, with a net loss of $6.9 billion, or $3.49 per share, compared to a slim net profit...
HP Misses, Q4 2012 Revenue Down 7% To $30B, $6.9B Net Loss, $8.8B Write-Down For Autonomy Acquisition
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