Hewlett-Packard: Have evidence Autonomy inflated financial metrics

theflyonthewall.com

Hewlett-Packard said in a statement that it has initiated an internal investigation "into a series of accounting improprieties, disclosure failures and outright misrepresentations that occurred prior to HP’s acquisition of Autonomy." HP added, "We believe we have uncovered extensive evidence of 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." Hewlett-Packard said the matter has been turned over to the UK Serious Fraud Office, the Securities and Exchange Commission’s Enforcement Division and the Department of Justice.

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