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