https://www.wsj.com/articles/u-s-jury-convicts-former-autonomy-cfo-of-fraud-in-h-p-deal-1525134860
HP acquired a company that was effectively non-existent.
For years, Mike Lynch, the CEO of Autonomy, claimed there was no merit to the case and an investigation against him in the UK was actually dropped (in what is probably a coincidence, he is/was an adviser to the Govt). Indicative of the level of self-delusion going on here, Lynch has actually sued for HP for damages...which now seems illjudged.
Autonomy was also heavily shorted (it was not particularly hard to see their accounts were fictitious) and, in the UK at least, it was a fairly contentious story as Lynch was thought to be one of the UK's leading tech entrepreneurs (he also has an OBE, the second highest honour that the UK govt issues).
HP are suing to get their money back.
Submitted May 01, 2018 at 10:41AM by bananarepubliccat https://ift.tt/2FwXk5H
