HP Filing Confirms Opening of Investigation by Serious Fraud Office Related to Autonomy Case

HP Filing Confirms Opening of Investigation by Serious Fraud Office Related to A

The recent filing from HP has confirmed the ongoing of the investigation by the UK's Serious Fraud Office (SFO) in the sale of technology firm Autonomy to Hewlett Packard.

Moreover, there are also reports that the SFO along with the US Department of Justice and the UK accounting regulator are questioning the firm regarding the case.

In 2011, HP bought the British firm for $10bn (£6.7bn). But last year were heard the news from the company that the British firm has inflated its value, which has forced HP to write off approx $5bn.

The above allegations have been denied by Autonomy's former boss, Mr. Mike Lynch.

The case was somewhat highlighted in the HP's recent filing, which confirmed that an investigation has been opened by the UK Serious Fraud Office related to Autonomy.

Also, the UK Serious Fraud Office, the US Department of Justice and the SEC has seek information related to the accounting improprieties, disclosure failures and misrepresentations at Autonomy from HP, which is linked to HP's acquisition of Autonomy.

Detailing about the case, a spokesperson for the SFO said that "allegations have been made to the SFO about the circumstances of the sale in 2011 of Autonomy to Hewlett Packard".


FrenchTribune Specials

Scientists Baffled with Sun Going Spotless

Researchers have noticed that telescopes targeted at the sun have been detecting only a handful of sunspots for past four or more days. But what has baffled scientists is the fact that none of sunspots were detected by those telescopes sometimes, said Alan Duffy, an astrophysicist at Swinburne University.

Dr. Duffy said it is not a new...

Most Popular

Verizon selling LG G3 handset for only $99.99 on contract

After the launch of LG's latest flagship handset - G3 -...

Many report falling fireball over US skies

Several people across eastern United States have...

US marks 45 years since lunar landing

US space enthusiasts are marking the forty five years of...

NASA Celebrates 45th Moon Landing Anniversary

On July 20, 1969, Buzz Aldrin and Neil Armstrong walked...

Poll

Can Greece Come out of Economic Problems: