Autonomy founder fires back at HP after news of DOJ inquiry

Independence creator and former CEO Scott Lynch is shooting back at Hewlett-Packard after the discharge of HP's yearly review with the U.S. Investments and Return Percentage these days. The review declares that the govt started out an query into HP's getting Independence in Nov and clues that Autonomy's bookkeeping is partly responsible.

"It is incredibly frustrating that HP has again did not offer a specific computation of its $5 billion dollars write-down of Independence, or post any description of the serious accusations it has made against the former control group, in its yearly review processing these days," Lynch said in an e-mailed declaration. "Furthermore, it is now less obvious how much of the $5 billion dollars write-down is actually being linked to the claimed bookkeeping problems, and how much to other changes in business performance and income forecasts."

HP obtained the business application organization in Aug 2011 for $11.1 billion dollars, or 11 times its yearly income. Since the buy, debate, legal cases, and an $8.8 billion dollars cost against HP's income have ensued.
HP and Lynch have exchanged justifications in the media over who should get the fault for Autonomy's mediocre performance. In its fourth-quarter income launch last 30 days, HP said it had found "extensive evidence" of fake bookkeeping and unsuccessful reports on Autonomy's part major up to the selling. Consequently, Lynch set up a Website that declines HP's expenses and says HP mishandled the organization after obtaining it.

"We also do not comprehend why HP is increasing these problems now given that Independence revealed into the HP Fund group from the day the buy finished in Oct 2011, there was an comprehensive due persistence procedure and Independence was audited as a community organization for many years," Lynch said these days. "We also observe the declaration in HP's yearly review that it obtained verification from the U.S. Division of Rights on 21 Nov 2012 (the day after HP's first community statement), that the Division had started out an research. We can validate that we have as yet had no get in touch with from any regulating power. We will co-operate with any research and look ahead to to be able to describe our place."
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