Quantcast
logo

Fraud allegations: HP sues former executives of Autonomy for $5.1bn

  • US technology firm Hewlett-Packard (HP) is suing Mike Lynch, the co-founder of Autonomy, and Sushovan Hussain, the ex-chief financial officer, for around $5.1 billion for alleged fraud.

    HP had bought the software company for $11 billion in 2011. But shortly after the purchase, HP alleged that Autonomy had misled it about the company’s true value.

    Meanwhile, Lynch and Autonomy’s former management intend to sue HP for over £100 million for “false and negligent statements”.

    Tagged as: US technology firm, Hewlett-Packard, HP, Mike Lynch, Autonomy, Sushovan Hussain, HP lawsuit, business news