HP gets sued by investors over $8.8 billion Autonomy write off

HP Autonomy Shareholder Lawsuit

And here come the lawsuits. Bloomberg reports that HP (HPQ) investors have unsurprisingly decided to sue the company over the $8.8 billion write off related to its 2011 acquisition of enterprise IT firm Autonomy. The complaint against HP “was filed today in federal court in San Francisco by the law firm Robbins Geller Rudman & Dowd LLP,” Bloomberg writes. HP last week surprised the tech world when it alleged that Autonomy had committed accounting fraud before its acquisition by HP and said it would seek to press criminal charges. Former Autonomy founder Mike Lynch quickly shot back at HP and said that the company was unjustly smearing his firm to cover up for its own incompetence.

Source:
Bloomberg
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