Earlier this month, HP released a massive...
HP on Tuesday shared court documents which...
On Monday, HP finally filed the promised...
Former officials from Autonomy say they have a...
"It's totally bad."
A watchdog lawyer, famous in legal circles for...
HP this morning filed a legal response to...
The former CFO of a software firm that was...
When HP officially announced it had settled...
HP is expected to announce a settlement on...
A new report by the Financial Times has brought into question exactly what HP knew about Autonomy's books and when.
HP's top Autonomy exec in the UK says he's still hiring engineers despite layoff rumours.
But SAP was never interested in Autonomy, it says.
HP CEO tries to reassure Autonomy customers, employees.
Today is HP's annual shareholder meeting and Lynch has something to say.
[credit provider=”Bloomberg TV” url=”http://bloom.bg/vDqoRd#ooid=wzbnYzMzpCK6Dt57s_KzwS5eDlvKxZxG”] Autonomy’s embattled former CEO Mike Lynch has hired famous criminal defence lawyer Reid Weingarten, sources close to Lynch confirmed to Business Insider.Weingarten is known as the lawyer that defended ex-WorldCom Chairman Bernard Ebbers. Ebbers still went to jail. Weingarten also defended former Enron accounting officer Richard […]
[credit provider=”www.youtube.com” url=”https://www.youtube.com/watch?v=6xu9-YhfQvU”] U.K. authorities have launched an investigation into the way software company Autonomy’s ran its books before HP bought it, the Financial Reporting Council (FRC) said.U.S. authorities are also investigating, HP announced in December.
Driverless cars may be coming sooner than expected.
[credit provider=”nosillacast/Flickr” url=”http://www.flickr.com/photos/nosillacast/5802306444/”] Last fall, HP wrote off most of its $11 billion purchase of Autonomy, and then accused the company’s former executives of accounting fraud.Now, the WSJ is reporting that, just before buying Autonomy, HP executives learned about some accusations against Autonomy and ignored them.
[credit provider=”Vimeo/Advaiya Videos” url=”http://vimeo.com/8979737″] When HP warned investors that it could sell some of its business units, the gossips immediately turned their eyes to Autonomy.But new evidence shows that HP is reorganising Autonomy, not trying to sell it.
[credit provider=”Virginia Briody”] You know how HP said it uncovered $5 billion worth of allegedly fraudulent revenue at Autonomy?One thing HP has accused Autonomy of doing is booking software-as-a-service contracts as software licensing deals.
Joseph Stiglitz, two-time Nobel Prize winner and one of the most famous economists of our age, unleashed a verbal tirade against central bank independence at the C D Deshmukh Memorial Lecture today in India, reports The Times of India.
[credit provider=”Bloomberg TV” url=”http://bloom.bg/vDqoRd#ooid=wzbnYzMzpCK6Dt57s_KzwS5eDlvKxZxG”] Shortly after HP revealed that the Department of Justice is investigating accusations of fraudulent accounting at Autonomy, the British software company it bought last year for $11.1 billion, Autonomy’s founder and former CEO, Mike Lynch, came out swinging.HP filed its annual 10-K report with the SEC yesterday, […]
[credit provider=”http://www.businessinsider.com.au/cms/posts/edit?id=50abddf3eab8eab77c000009″ url=”http://www.businessinsider.com.au/cms/posts/edit?id=50abddf3eab8eab77c000009″] A company HP’s size is always fending off lawsuits, but the avalanche of shareholder suits flung at HP and its corporate execs since November is jaw-dropping all the same.Since HP announced that it would take an $8.8 billion write-down on its $11.1 billion acquisition of Autonomy in […]
[credit provider=”http://www.businessinsider.com.au/cms/posts/edit?id=50abddf3eab8eab77c000009″ url=”http://www.businessinsider.com.au/cms/posts/edit?id=50abddf3eab8eab77c000009″] A couple of years ago, Hewlett Packard paid an astounding $11 billion for a British software company called Autonomy that most people thought was only worth a few billion, at most.Last quarter, after laying the blame for this colossal mistake on fired CEO Leo Apotheker, HP wrote […]
[credit provider=”AP”] In a 10-K just filed with the SEC, Hewlett-Packard disclosed that the U.S. Department of Justice notified the company that it was investigating Autonomy matters.In case you haven’t been following, HP had reported an enormous charge in its earnings announcement on November 20. Here’s exactly what they said:
[credit provider=”http://www.businessinsider.com.au/cms/posts/edit?id=50abddf3eab8eab77c000009″ url=”http://www.businessinsider.com.au/cms/posts/edit?id=50abddf3eab8eab77c000009″] HP plans to lay off a bunch of Autonomy employees, according to several news reports.Up to 200 Autonomy employees are bracing themselves for a pink slip, writes Jon Rees at the U.K. publication, the Daily Mail.
Before Hewlett-Packard bought British software company Autonomy, the deal was pitched to Michael Dell, the CEO of the eponymous PC maker, as well.
[credit provider=”Bloomberg TV” url=”http://bloom.bg/vDqoRd#ooid=wzbnYzMzpCK6Dt57s_KzwS5eDlvKxZxG”] As the furor over accusations that Autonomy defrauded HP dies down, there’s one guy who doesn’t want the attention to stop: Autonomy’s former CEO, Mike Lynch.Today he launched a blog defending his former company and his management of it.
[credit provider=”nosillacast/Flickr” url=”http://www.flickr.com/photos/nosillacast/5802306444/”] SAN FRANCISCO/NEW YORK/LONDON (Reuters) – For Leo Apotheker, the former Hewlett-Packard CEO, a July 2011 meeting with Autonomy founder Mike Lynch at a chic seaside resort in France was pivotal to his effort to remake a storied technology giant.In the nine months since taking the helm at […]
[credit provider=”nosillacast/Flickr” url=”http://www.flickr.com/photos/nosillacast/5802306444/”] * Apotheker was in a hurry to make a transformative deal* Approached at least 3 other companies over deals-source
[credit provider=”Bloomberg TV” url=”http://bloom.bg/vDqoRd#ooid=wzbnYzMzpCK6Dt57s_KzwS5eDlvKxZxG”] As the public feud between Hewlett-Packard and Autonomy’s former CEO Mike Lynch heats up, more details are emerging on the man and the corporate culture he built at before HP spent $11.1 billion to acquire it.Some of it is fun. Much of it is harsh.
[credit provider=”Hewlett-Packard”] When HP blamed its $8.8 billion writeoff of Autonomy on fraudulent bookkeeping at the software company it bought last year, Meg Whitman told Wall Street analysts that two HP executives “led” the deal:Ex-CEO Léo Apotheker and former CTO Shane Robison.
[credit provider=”http://www.businessinsider.com.au/cms/posts/edit?id=50abddf3eab8eab77c000009″ url=”http://www.businessinsider.com.au/cms/posts/edit?id=50abddf3eab8eab77c000009″] Earlier today, Mike Lynch sent an open letter to the HP board demanding that they turn over the evidence of the alleged fraud in Autonomy’s books.A few minutes ago, HP responded, saying that they are leaving things in the hands of the authorities and that the company […]
[credit provider=”The Telegraph” url=”http://www.telegraph.co.uk/finance/newsbysector/industry/8710037/Profile-Mike-Lynch-Autonomy-founder.html”] Responding to HP’s charges that he and other members of Autonomy’s management team cooked the books to inflate the software company’s apparent growth, former CEO Mike Lynch says its time for HP’s board to put up or shut up.He just sent them an open letter demanding […]
[credit provider=”www.youtube.com” url=”https://www.youtube.com/watch?v=6xu9-YhfQvU”] Autonomy founder Mike Lynch has been thrust into an uncomfortable spotlight.HP CEO Meg Whitman has accused him and other former members of the management team of Autonomy, the software company it paid $11.1 billion for last year, of fraudulent accounting. Inflated revenues duped her and other board […]
[credit provider=”The Telegraph” url=”http://www.telegraph.co.uk/finance/newsbysector/industry/8710037/Profile-Mike-Lynch-Autonomy-founder.html”] Jaws are still wagging about Hewlett-Packard’s bombshell news this week. The tech giant says it discovered fraudulent accounting at its Autonomy unit and, as a result, took a $8.8 billion writedown of the $11.1 billion it paid for the UK software company last year.Mike Lynch, founder […]
Here’s the problem with Hewlett- Packard Co.’s explanation today for why it took an $8.8 billion writedown related to its purchase of Autonomy Corp.: The numbers don’t make sense.
A few weeks ago I presented at the Santangels conference in New York. The conference was held under Chatham House rules [off the record]. My topic: how to fake your accounts from the perspective of the fraudster (and hence how as an investor to tell if a company is faking […]
HP has been a total mess since Mark Hurd was ousted as CEO, and things got even worse for HP today.
[credit provider=”YouTube/UKTIWeb” url=”http://www.youtube.com/watch?v=zWvlqTChDKc”] HP is levelling serious charges at former Autonomy employees, accusing them of “a willful effort … to inflate the underlying financial metrics of the company in order to mislead investors and potential buyers.”Now, Autonomy’s founder Mike Lynch is hitting back.
[credit provider=”Flickr/HP” url=”http://www.flickr.com/photos/hpnews/5041750945/sizes/z/in/photostream/”] Now that HP’s $11.1 billion purchase of Autonomy is completely blowing up in its face, it’s time to look back at how it could have happened in the first place.Wasn’t anyone warning HP’s board that it might be buying a lousy company? Why yes, someone was warning […]
[credit provider=”Screenshot”] Don’t blame the Hewlett-Packard board for signing off on buying a company that had allegedly cooked its books, CEO Meg Whitman told Wall Street analysts today.The board listened to reports from accountants when they okayed the $11 billion deal to buy Autonomy, she said.
[credit provider=”AP”] When a company reports a loss per share of $6.41, or roughly half its own stock price, thanks in good measure to the write-off of most of the book value of a $10 billion acquisition that closed barely one year ago, you should probably let more than nine […]
[credit provider=”http://www.businessinsider.com.au/cms/posts/edit?id=50abddf3eab8eab77c000009″ url=”http://www.businessinsider.com.au/cms/posts/edit?id=50abddf3eab8eab77c000009″] HP execs are claiming they were misled by Autonomy when former CEO Léo Apotheker made the second-largest acquisition in the company’s history last year.That alleged deception accounted for most of an $8.8 billion writedown the company’s taking.
[credit provider=”The Telegraph” url=”http://www.telegraph.co.uk/finance/newsbysector/industry/8710037/Profile-Mike-Lynch-Autonomy-founder.html”] The man accused of masterminding massive accounting fraud at a company HP paid $11.1 billion to acquire, denies any wrongdoing.HP announced an $8.8 billion writedown this morning, blaming it largely on accounting fraud it says it discovered at Autonomy, which it bought last year. HP is […]
[credit provider=”HP”] As HP takes a massive charge for its $11.1 billion purchase of software company Autonomy a year ago, Oracle gets to say “We told you so.”Last year, Oracle published a blistering set of documents directly contradicting Autonomy CEO Mike Lynch’s claim that he hadn’t tried to sell his company […]
[credit provider=”AP”] GM has agreed to take 3,000 workers off of HP’s hands.It’s a move that some are calling “outsourcing in reverse” or “insourcing.”
[credit provider=”Flickr/TechShowNetwork” url=”http://www.flickr.com/photos/techshownetwork/2960934531/sizes/z/in/photostream/”] Next week Meg Whitman will be meeting with analysts to discuss HP’s planned turnaround.But Jefferies analyst Peter Misek jumped the gun with a report yesterday that not only advised investors to sell HP’s stock, but warned that HP could be heading for another huge write-off, to the […]
[credit provider=”HP”] Mike Lynch, the British founder of big-data company Autonomy is about to fire up a tech venture fund in London, Bloomberg reports.HP spent $10.3 billion buying Autonomy in a deal masterminded by now-former HP CEO Léo Apotheker last summer. Autonomy’s founder and CEO Mike Lynch joined HP at […]
[credit provider=”via Google” url=”http://www.google.com/press/images.html”] The self-driving car is a reality. Google’s efforts to put an autonomous car on the roads look like they are going to be successful. While it will be a major achievement, it scares us to death.
[credit provider=”Flickr/TechShowNetwork” url=”http://www.flickr.com/photos/techshownetwork/2960934531/sizes/z/in/photostream/”] HP employees tell us they were shocked to get an email from Meg Whitman this morning. It said HP has hired yet another outsider—George Kadifa of Silver Lake Partners—for a leadership role at HP.Why the surprise? Whitman had told employees that HP needs to find leaders from […]
[credit provider=”LinkedIn”] HP has once again reached outside the company to find some leadership. This time it snagged a well-known software guy, George Kadifa, and handed him the ailing software business.Kadifa is an interesting choice for HP’s software because for the past couple of years he’s been working as a […]
[credit provider=”HP”] Looks like Bill Veghte is being groomed for CEO Meg Whitman’s job whenever she decides to vacate it. Today the company named him COO.HP’s board promised that its next CEO would be promoted from within — which is something that many long-time employees and investors wanted to hear. But […]
[credit provider=”HP”] Former Autonomy CEO Mike Lynch is out at HP. His job will be taken over by Bill Veghte, who was leading the software business AND named chief strategy officer in January.Autonomy hasn’t been the killer software product that HP pumped it up to be. “Autonomy saw a significant […]
[credit provider=”Flickr/HP” url=”http://www.flickr.com/photos/hpnews/5041750945/sizes/z/in/photostream/”] HP’s chief financial officer Cathie Lesjak blindsided her old boss at a board meeting and told assembled directors she was totally opposed to HP’s $11 billion acquisition of enterprise search company Autonomy.Fortune reports that Lesjak had told then-CEO Leo Apotheker in private that she was opposed to […]
[credit provider=”Courtesy General Motors”] Google’s fully autonomous cars have been testing for a while now and there have been a surprisingly small number of accidents.And now, it seems one domestic manufacturer is getting ready to introduce its own take on a self-driving car.
More in the war of words between Oracle and Autonomy!
[credit provider=”Wikipedia”] Oracle kicked up its war of words with HP and Autonomy to a new level last night when it published the slide decks Autonomy presented to Oracle when it was selling itself. Back in August HP paid $10.2 billion for the UK enterprise software company. A month later Larry […]
[credit provider=”HP” url=”http://h30507.www3.hp.com/t5/Data-Central/CEO-Apotheker-s-Friday-at-HP-Labs-lunch-and-listening-tours-Plus/ba-p/82688″] Hewlett-Packard did a bunch of things today:
[credit provider=”Flickr/HP” url=”http://www.flickr.com/photos/hpnews/5041750945/sizes/z/in/photostream/”] HP has confirmed that it’s buying British enterprise software company Autonomy for $42.11 a share.The confirmation came in HP’s official earnings release, which came out about a half hour after another release in which HP said it was considering the purchase, and a few hours after a […]
In addition to selling off its PC business, Hewlett-Packard will reportedly make a $10 billion bid for Autonomy, according to Bloomberg.