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Ex-Autonomy CEO "flatly-rejects" HP charges
November 20, 2012 / 4:07 PM / 5 years ago

Ex-Autonomy CEO "flatly-rejects" HP charges

LONDON (Reuters) - Mike Lynch, the former chief executive of Autonomy, on Tuesday “flatly rejected” allegations made by the company’s new owner Hewlett Packard (HPQ.N) regarding “serious accounting improprieties”.

A logo of HP is seen outside Hewlett-Packard Belgian headquarters in Diegem, near Brussels, January 12, 2010. REUTERS/Thierry Roge/Files

In a brief statement released to Reuters, a spokeswoman said the former management of Autonomy denied the allegations.

    “The former management team of Autonomy was shocked to see this statement today, and flatly rejects these allegations, which are false,” she said.

    “HP’s due diligence review was intensive, overseen on behalf of HP by KPMG, Barclays (BARC.L) and Perella Weinberg. HP’s senior management has also been closely involved with running Autonomy for the past year.”

    HP said on Tuesday it was taking an $8.8 billion charge related to its acquisition of software firm Autonomy, citing the accounting improprieties.

    Reporting by Paul Sandle; writing by Kate Holton; editing by James Davey

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