HP’s cup of woes is brimming over
The shareholder in his complaint has alleged that HP had tried to cover up that it had gained control of Autonomy based on falsified financial statements. HP’s CEO Meg Whitman and its former CEO Leo Apothekar are both named defendants in the case. Autonomy chief executive Mike Lynch has written a letter to HP’s board demanding details of the allegations that he and his team inflated revenue and gross margins. But HP has not yielded to such a request. HP had submitted documents to SEC and Department of Justice detailing the charges. HP had acquired Autonomy last year for $11 billion. The recent events have again pointed to HP’s effectiveness or the lack of it, when it comes to acquisitions. EDS,
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