The Gift That Keeps On Giving--HP Sues Autonomy Executives For Fraud (And Execs Do So In Return)

March 31, 2015 6:02 PM

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Just when you thought the HP/Autonomy storm was blowing over, it starts up again. Readers will recall that HP acquired Autonomy in a massive $11.1 billion deal that was heralded and the reinvention of HP. Alas, the deal didn’t go swimmingly, and claim and counterclaim ensued relating to Autonomy’s revenues and the veracity thereof. Indeed, the acquisition was, by most measures, a complete disaster. It led to a $5 billion write-down in 2012 by HP (as part of a larger, $8.8 billion total writedown) and was a significant contributing factor in HP CEO Leo Apotheker‘s fall.

HP can confirm that, on March 30, a Claim Form was filed against Michael Lynch and Sushovan Hussain alleging they engaged in fraudulent activities while executives at Autonomy. The lawsuit seeks damages from them of approximately $5.1 billion. HP will not comment further until the proceedings have b...

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