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Autonomy (AU.)     

chessplayer - 27 Nov 2007 09:00

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

chessplayer - 11 Apr 2013 13:31 - 448 of 450

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.”

skinny - 05 Aug 2014 10:36 - 449 of 450

These used to be one of my favourites.

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

Rocky - 05 Aug 2014 11:01 - 450 of 450

Me too. In fact I think these were the first shares I ever bought. Sadly I sold way before the buyout...... still made some money along the way.
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