Liz Gannes

Recent Posts by Liz Gannes

HP Confirms DOJ Is Investigating Alleged Fraud in Autonomy Deal

Hewlett-Packard said today that the U.S. Department of Justice is investigating its acquisition of Autonomy, for which it is trying to write down about $5 billion in expenses due to alleged “serious accounting improprieties.”

Autonomy_HP25-featureThe investigation confirmation came as part of HP’s annual report filed with the Securities and Exchange Commission. But this move was entirely expected given HP took its case to the FBI/DOJ and the SEC in the United States as well as the Serious Fraud Office in the U.K.

HP said it was alerted by the DOJ on Nov. 21 that it had officially opened an investigation about Autonomy.

Former Autonomy CEO Mike Lynch has strenuously rejected HP’s claims and has demanded to see evidence for them.

A spokesman for HP declined to comment on the matter.

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The problem with the Billionaire Savior phase of the newspaper collapse has always been that billionaires don’t tend to like the kind of authority-questioning journalism that upsets the status quo.

— Ryan Chittum, writing in the Columbia Journalism Review about the promise of Pierre Omidyar’s new media venture with Glenn Greenwald