Inside the Briefcase
US Justice Department Opens Investigation Into Autonomy: HP
January 1, 2013 No CommentsSOURCE: CNBC
The U.S. Department of Justice will investigate Hewlett-Packard’s recent acquisition of UK software firm Autonomy, HP said in a regulatory filing on Thursday.
Hewlett-Packard last month reported a charge in its earnings that it said related to “serious accounting improprieties” at Autonomy before HP acquired the British software maker last year for a price tag of more than more than $11 billion.
In a statement to the U.S. Securities and Exchange Commission, Hewlett-Packard said: “As a result of the findings of an ongoing investigation, HP has provided information to the U.K. Serious Fraud Office, the U.S. Department of Justice and the SEC related to the accounting improprieties, disclosure failures and misrepresentations at Autonomy that occurred prior to and in connection with HP’s acquisition of Autonomy.”
