Investor Sues HP Over Loss Of Earnings Following Autonomy Acquisition

Investors in Hewlett-Packard have filed a lawsuit against the firm, claiming that its acquisition of British software firm Autonomy has lost them money. The complaint, which names Meg Whitman, Leo Apotheker and CFO Catherine Lesjak as defendents, was filed yesterday in Federal court in San Francisco, alleging that the firm released false and misleading statements.

The Wall Street Journal has been investigating Autonomy's "aggressive accounting practices," as it calls them, and it's a juicy read. Last week, the two firms entered into a war of words, as Meg Whitman accused Autonomy of talking up its finances before the takeover.

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  • tsport100

    Why is an MBA running an engineering innovation company? 

    Aside from that, her track record on deals is pretty patchy. While at eBay bought Skype for $4B in 2005, sold it at a loss in 2009 for $2.75B .. yet Microsoft was willing to pay $8.5B for it in 2011..She signed off on this acquisition, the deal is a joke so she should fall on the sword!