Autonomy founder Lynch accused of inflating sales before HP deal

Autonomy founder Lynch accused of inflating sales before HP deal

British entrepreneur Mike Lynch artificially inflated revenue at his Autonomy software company before selling it to Hewlett Packard for $11 billion. HP is suing Autonomy founder Lynch along with his former finance chief Sushovan Hussain for $5 billion after the 2011 deal went disastrously wrong. A year after the deal HP wrote down the value of Autonomy by $8.8 billion.

Timothy
Timothy
Top in Business
Get the App