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  • avb911t@sbcglobal.net avb911t Nov 20, 2012 10:42 AM Flag

    $8.8 Billion accounting fraud

    at HP's Autonomy division.

    Watch out , Lnkd. You can hide for only so long.

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    • avb911t@sbcglobal.net avb911t Nov 20, 2012 1:30 PM Flag

      H-P’s internal investigation found that Autonomy had misstated its “financial performance, including its revenue, core growth rate and gross margins, and the misrepresentation of its business mix.”

      The company said there apparently 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.”

      http://www.marketwatch.com/story/how-h-p-was-duped-in-autonomy-deal-2012-11-20

 
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