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Autonomy founder denies fraud

The founder and former chief of the British software firm defended its accounting methods after Hewlett-Packard (HPQ), which bought it last year, accused it of massive accounting fraud. HP this week wrote off $8.8 bil of its $11.1 bil purchase, and said $5 bil was due to "serious accounting improprieties" at Autonomy. Mike Lynch said he has not yet spoken with HP or with regulators. But in multiple media interviews he said accounting methods were legal and vetted by auditors.