Posts Tagged ‘ Autonomy ’

Hewlett-Packard Company (HPQ) Board Approves 10% Dividend Hike

March 21, 2013

Hewlett-Packard Company (NYSE:HPQ) approved a 10 percent dividend increase in its annual shareholders meeting on Wednesday, which some analysts believe in an attempt to curry favor with its shareholders. The company faced shareholder displeasure over its $11.1 billion purchase of Autonomy Inc and a few months ago, Hewlett-Packard announced a write-down of $8.8 billion related to alleged fraud at Autonomy. Hewlett-Packard Company (NYSE:HPQ), which has about 2 billion outstanding shares, said the quarterly dividend will...
Read More »

Autonomy Founder Asks Hewlett-Packard for Details on Fraud

By Vikas Shukla

March 20, 2013

Right before Hewlett-Packard Company (NYSE:HPQ)’s annual shareholder meeting, Autonomy founder and former chief Mike Lynch increased pressure on Hewlett-Packard Co. (NYSE:HPQ) board of directors to provide more details about the alleged fraud in the British technology company before H-P acquired it in 2011. Lynch has denied the allegations several times in the past. In an open letter to Hewlett-Packard shareholders, Lynch also asked Hewlett-Packard to disclose how it calculated the impairment charges of $8.8 billion related...
Read More »

UK Regulators Investigate Autonomy’s Accounting Practices

By Marie Cabural

February 11, 2013

The Financial Reporting Council (FRC) of the United Kingdom said it is conducting an investigation regarding the accounting practices of Autonomy before it was acquired by Hewlett-Packard Company (NYSE:HPQ) for $11.1 billion in 2011. In a press statement, the FRC said it would check Autonomy’s financial reporting from January 1st, 2009 to December 30th, 2011 as part of its objective to provide high quality corporate governance and reporting to promote investment. The FRC launched its...
Read More »

Goodwill for S&P 500 Companies Doubled Over Past Decade

By EconMatters

February 3, 2013

More and more in fashion lately in the financial world is companies taking huge write-downs of some flopped acquisitions. Even the big-name players with tremendous resources to scrutinize the acquisition can’t escape this fate. Microsoft Corporation (NASDAQ: MSFT) had to own up last July to a $6.2-billion write-off of the acquisition of aQuantive, a digital advertising company that Microsoft bought for $6.3 billion cash in 2007. The size of the write-down is significant even...
Read More »

Will Hewlett-Packard Company (HPQ) Sell Autonomy Corp?

By Michelle Jones

January 17, 2013

Hewlett-Packard Company (NYSE:HPQ) has reportedly received offers for Autonomy Corp., the company it acquired in 2011. The company has been nothing but headaches for Hewlett-Packard after allegations of improper accounting practices were raised. But will Hewlett-Packard Company sell Autonomy? Let’s look at the evidence. A conference call that took place Tuesday, the day before the Wall Street Journal article reporting that Hewlett-Packard could sell, does seem to focus quite a bit on Autonomy. Participants...
Read More »

Hewlett-Packard Company (HPQ) Receives Offers For Autonomy

By Michelle Jones

January 16, 2013

Hewlett-Packard Company (NYSE:HPQ) has reportedly received offers for two businesses it has acquired in recent years. Interest in Autonomy Corp. and EDS has been expressed by various tech companies in the U.S., according to anonymous sources cited by The Wall Street Journal. Autonomy is the company that has given Hewlett-Packard so many headaches since allegations regarding improper accounting practices surfaced. The company acquired Autonomy in 2011 and EDS, a tech services company, in 2008....
Read More »

Hewlett-Packard Confirms Autonomy DoJ Investigation

By Vikas Shukla

December 28, 2012

Hewlett-Packard Company (NYSE:HPQ) revealed in its FY2012 10-K filing on Thursday, that the Department of Justice has begun probes over its allegations that the British software firm Autonomy Corp. was involved in accounting malpractices before HP acquired it in October 2011. The takeover created headlines after HP claimed last month that it had been misled about the British firm’s financial performances. Consequently, HP shareholders sued the company and its auditors – KPMG and Deloitte – for...
Read More »

Hewlett-Packard Company (HPQ) Gets Boost Over Carl Icahn Buy Rumors

By ValueWalk Staff

December 10, 2012

Hewlett-Packard Company (NYSE:HPQ)’s stock jumped earlier today after rumors Carl Icahn is building a stake in the company. The Palo-Alto based company, which is one of the world’s leading PC manufacturers, saw a jump in the market value of its shares after rumors surfaced that Carl Icahn, renowned investor and business magnate, was considering a buy-up of HP shares. The rumours of Icahn’s investment in Hewlett-Packard Company (NYSE:HPQ) caused a rally in the stock’s value, pushing it...
Read More »

Autonomy Founder Mike Lynch Strikes Back At Hewlett-Packard

By Vikas Shukla

November 27, 2012

In an open letter sent to news organizations and the board of Hewlett-Packard Company (NYSE:HPQ), the founder and former CEO of Autonomy Corp. asked Hewlett-Packard to specify its allegations of serious accounting improprieties at Autonomy that caused an $8.8 billion writedown. He also called on the Hewlett-Packard board to provide him with a copy of the documents and interim reports that they provided to Britain’s Serious Fraud Office and the SEC in the United States....
Read More »

Hewlett-Packard Company (HPQ) Sued Over Autonomy Fraud Scandal

By Marie Cabural

November 26, 2012

Hewlett-Packard Company (NYSE:HPQ) is facing a lawsuit filed by investors in connection with the $8.8 billion in losses incurred by the company, due to accounting irregularities in the acquisition of the software firm Autonomy Corporation for $11.1 billion last year, according to the report from Bloomberg. The company reported in its fourth quarter earnings report last Tuesday that $5 billion of the $8.8 billion write-down is associated with the Autonomy acquisition. Hewlett-Packard Company (NYSE:HPQ) discovered serious “accounting improprieties,...
Read More »

Hewlett-Packard Fiasco Was Predicted Recently by This Genius

By Paul Shea

November 21, 2012

Hewlett-Packard Company (NYSE:HPQ) is currently trying to put together the nexus of fraudulent accounting practices supposedly used by Autonomy Corp. to inflate its value before acquisition. At least one value fund manager saw the company’s problems, and he reported them weeks ago. At the Santangels conference in New York, John Hempton, founder of Bronte Capital Management, delivered a presentation on how to fraudulently prepare accounts. The presentation was designed to teach those present how...
Read More »

Page 1 of 2

1 2 »