Any views on where this stock might be headed?
Its already down by 250 from its high of just a few weeks back and if i knew anything about charts,WHICH I DON,T,maybe it is time to cash a few in

Skinny hope is a fine thing Lynch OBE according to his directorship profile in the BLNX annual report is also on the board of the BBC.

UBS trader sentenced to 7 years, hope UBS are paying for his keep in prison and not us taxpayers?

Autonomy misled HP about finances, Hewlett Packard says

From the above article :-

Mike Lynch told BBC News that the HP allegations were just a way of distracting attention from poor results.

"It's managed the company very badly," he said. "It lost around half the staff before I left and the whole of the management team, and the value of the company has now fallen and they've been forced to write it off."

"Today is the day they're announcing the worst results in the 70 year history of the business and I think there's a little bit of distraction going on here."

This reads like a financial institutional rogue's gallery!

In HP-Autonomy debacle, many advisers but little good advice

Wed Nov 21, 2012 3:52am GMT

(Reuters) - When Hewlett Packard acquired Autonomy last year for $11.1 billion, some 15 different financial, legal and accounting firms were involved in the transaction -- and none raised a flag about what HP said Tuesday was a major accounting fraud.

HP stunned Wall Street with the allegations about its British software unit and took an $8.8 billion writedown, the latest in a string of reversals for the storied company.

All these financial institutions involved seems to suggest that the old adage still applies. That is to say " too many cooks spoil the broth !"

.

HP’s Accounting Claims Are Seen as Cover for Bad Deals

Hewlett-Packard Co.’s (HPQ) claims of financial improprieties at Autonomy Corp. have accounting experts questioning whether the allegations are an attempt to divert attention from yet another bad acquisition.

Mike Lynch points out, that in the economic downturn, HP axed a great many of Autonomy's top staff. It can hardly be a surprise, therefore, that their performance was sub par.+

HP has been acting like headless chicken. Once they were one of the most reputable companies in Electronic and telecommunication industry, now they jump from one industry to another, destroying the company.

They are fundamentally great, but the management and their structure are the problem.

Not the 1st and certainly, they won't be the last.

Insight - How a desperate HP suspended disbelief for Autonomy deal

SAN FRANCISCO/NEW YORK/LONDON | Fri Nov 30, 2012 6:19am GMT

(Reuters) - For Leo Apotheker, the former Hewlett-Packard CEO, a July 2011 meeting with Autonomy founder Mike Lynch at a chic seaside resort in France was pivotal to his effort to remake a storied technology giant.

In the nine months since taking the helm at HP, Apotheker had tried furiously to find a way to move the lumbering company away from its low-margin computer hardware business and into the lucrative corporate software and services arena. Apotheker was looking for a big, transformative acquisition, two people familiar with the situation said, and after overtures to several companies went nowhere, he set his sights on Autonomy.

How could HP find a $5bln gap in Autonomy’s value?

By Quentin Webb

The author is a Reuters Breakingviews columnist. The opinions expressed are his own

How could Hewlett-Packard find a $5 billion-plus hole in an $11.1 billion deal? The U.S. tech giant claims to have uncovered all kinds of accounting nasties at Autonomy, the British software outfit it bought last year. But HP won’t say quite how the allegations – strongly denied by Autonomy’s ex-boss Mike Lynch – could produce such a colossal writedown. Breakingviews tries a spot of reverse-engineering to see how it could be possible.

Wot a load of crap , didn't HP look at everything mentioned in the link before buying ?

Haven't any of you seen the accountants note on results about "foward looking statements" ???

HP have cocked aquisitions up for years .... this is another one imo.

I quite agree!

Autonomy under SFO investigation

6:20AM GMT 12 Mar 2013

The disclosure last night from HP comes as the $11.1bn (£7.5bn) purchase of Autonomy looks set to dominate the PC maker's annual shareholder meeting in California later this week.

In a filing with US financial regulators, HP said the SFO informed it on February 6 that it had opened an investigation into HP's allegations that it was forced to overpay for Autonomy in August 2011.

Designed to cut HP's dependence on a shrinking PC market, the acquisition of Autonomy cost former chief executive Leo Apotheker his job and has angered shareholders. HP wrote down the value of Autonomy, which was founded by UK entrepreneur Mike Lynch, by $8.8bn late last year. Autonomy's former management denies any improper accounting.

rock and a hard place .... HP clearly bought a pup, and the only way they can even attempt to save face with their shareholders is to mount a post-event ridiculously expensive forensic investigation into AU ..... HP's auditors would/should already have done that when carrying out due diligence

little babes.
No worried for HP or others. RBS could claim more if the previous bosses were really interested, IMO.

Mike Lynch attacks Hewlett-Packard for a lack of innovation
Autonomy founder Mike Lynch has attacked Hewlett-Packard for its lack of innovation as he defended the controversial £7.1bn sale of the company he founded.

Mike Lynch, speaking attheGlobal Grand Challanges Summitin London, defended Autonomy's reputation Photo: Bloomberg
By Helia Ebrahimi, Senior City Correspondent
8:38PM GMT 13 Mar 2013
14 Comments
Mr Lynch said Autonomy’s bust-up with Hewlett-Packard over alleged accounting irregularities had not damaged the Cambridge-based company’s reputation.

Instead, he insisted Autonomy’s legacy would “prove itself over time” while Hewlett-Packard was suffering an exodus of engineering talent.

“Innovation is the very reason the acquisition was done,” said Mr Lynch, describing the 2011 deal. “Autonomy was able to innovate in a way that Hewlett-Packard was not.”

Last November, Hewlett-Packard announced it was writing down the value of Autonomy by $8.8bn (£5.9bn), having bought it for £7.1bn the previous summer.

Meg Whitman, the chief executive who took over as the acquisition was being completed, blamed a wilful effort to inflate the company’s figures, which Hewlet-Packard said “severely impacted HP management’s ability to fairly value Autonomy at the time of the deal”.

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Mr Lynch, who refused to comment on whether he was considering legal action against Hewlett-Packard, said he was still in the dark about what the allegations were about.

“We know Hewlett-Packard is disputing the value it paid for [Autonomy] over the [accounting irregularities]. But we haven’t seen any of the allegations so it is very difficult.

“We would love to see them, we would love [Hewlett-Packard] to put the allegations in the public domain so that we could pick over them.”

Earlier this week, Hewlett-Packard revealed, in a regulatory filing with the US Securities and Exchange Commission, that Autonomy was under investigation By US regulators and the Serious Fraud Office.

However, Mr Lynch, who was speaking at Global Grand Challenges Summit in London, joked that while he believed in innovation in almost every part of life, “innovation in accounting” was not something he advocated.

Mr Lynch said the accusations against his former company did not change Autonomy’s reputation for being a technology trailblazer.

“Hewlett-Packard was [once] a company built on innovation, with Mr Hewlett and Mr Packard. They produced an amazing company. But what we have seen in recent years is that they’ve been challenged in doing that, especially in the areas like software. Also, they haven’t been able to hold on to talent, which is one thing they haven’t talked about. When they have done acquisitions like Fortify and Autonomy people have left and that’s difficult.”

Meanwhile, Mr Lynch said, people who had left Autonomy since the acquisition were all “off doing amazing things”.

“Autonomy started as a company with two people and it grew to become a FTSE100 firm. The legacy is an ongoing thing and it will prove itself over time.”

A spokesman for HP said: "Mr Lynch has made these criticisms repeatedly since accounting improprieties at Autonomy under his leadership were reported, and Mr Lynch was dismissed from HP for performance-based reasons. Innovation is at the heart of HP, evidenced by the Company’s leadership in almost every market it serves."

HP boss Meg Whitman admits Autonomy row hit morale

The boss of Hewlett Packard has admitted that the Autonomy accounting scandal dented morale at the Cambridge business, but has ruled out selling the “magical” technology firm.

Meg Whitman took the helm of Hewlett Packard shortly before it acquired Autonomy for $11.1bn (£7.7bn) in 2011 Photo: Reuters
By Katherine Rushton, Media, Telecoms and Technology Editor
12:21PM BST 10 Apr 2013
13 Comments
Meg Whitman, who took the helm of Hewlett Packard shortly before it acquired Autonomy for $11.1bn (£7.7bn) in 2011, said on Monday that it had taken months for Autonomy staff to “rebuild their confidence” after HP launched a blistering attack on the British software company’s accounting methods.

HP accused Autonomy last November of using serious accounting improprieties to wilfully misrepresent its business and inflate the price tag on it. Autonomy founder Mike Lynch, who left the company before the debacle was made public, vehemently denies any wrongdoing. Britain’s Serious Fraud Office is currently investigating the case, alongside the Securities and Exchange Commission and the Department of Justice in the US.

Ms Whitman said: “When the news about Autonomy broke, the remaining employees were unsettled – that is the best word. They felt really badly…It has taken them a few months to rebuild their confidence. It has been really hard on them.”However, she added that the rate at which staff are leaving Autonomy has slowed and that it expected to improve profit margins over the next few quarters.

HP’s allegations about Autonomy unleashed a furious war of words with Mr Lynch, and marked the opening salvo in a legal row which threatens to cast a shadow over the business for years. Ms Whitman said she had no regrets about making the scandal public and vowed to try and recover as much money as HP can for shareholders.

“There wasn’t even a question [of making public], because the magnitude of the accounting improprieties, the disclosure failures, the accounting misrepresentation was so substantial that there was not even an option to not be straight up about this. We had to explain to our investors, our employees what had actually happened here.”

These used to be one of my favourites.

HP confirms it will sue Autonomy founder Mike Lynch over alleged fraud