Hewlett-Packard slams ex-Autonomy exec, says it will sue

Former Autonomy CFO Sushovan Hussain's attempt to block a shareholder lawsuit settlement is ''ludicrous," HP says

Hewlett-Packard has fired back at a former Autonomy executive who is attempting to block the settlement of a number of shareholder lawsuits filed over HP's disastrous acquisition of the infrastructure software vendor.

HP bought Autonomy in 2011 for more than US$10 billion, but later wrote off $8.8 billion of the purchase price after discovering what it called serious accounting irregularities on the part of Autonomy prior to the deal.

Ex-Autonomy Chief Financial Officer Sushovan Hussain filed a motion in June over the shareholder cases, arguing that a settlement would prevent the truth from being revealed, namely HP's "own destruction of Autonomy's success after the acquisition."

Hussain "was one of the chief architects of the massive fraud on HP that precipitated this litigation," HP said in a response to Hussain's motion on Monday. "The notion that he should be permitted to intervene and challenge the substance of a settlement designed to protect the interests of the company he defrauded is ludicrous."

Hussain knows HP will sue him in England where discovery rules are more limiting, HP added. He "also knows that prosecutors on both sides of the Atlantic are investigating him, that HP is cooperating with those authorities and that, until he is charged, he has no access to the information that HP is providing to the authorities."

The former executive is wrapping himself "in a mantle of self-righteousness in an attempt to obtain discovery that he hopes will help him stay out of prison and defend the civil litigation he expects HP will file in the UK," the filing alleges.

Autonomy founder and CEO Mike Lynch, who was ousted from HP in 2012, has denied any wrongdoing, saying publicly that HP was aware of Autonomy's accounting practices before the acquisition and has conducted a smear campaign against him and others.

Lynch couldn't immediately be reached for comment. However, a spokesman for Lynch told Recode on Monday that HP's filing was "breathless ranting" and "the sort of personal smear we've come to expect."

An attorney for Hussain was equally dismissive. "Ask yourself why, if they are so concerned about fraud, HP has been scared to sue anywhere for three years," John Keker told Bloomberg.

Chris Kanaracus covers enterprise software and general technology breaking news for The IDG News Service. Chris' email address is Chris_Kanaracus@idg.com

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags Mergers and acquisitionsbusiness issueslegalsoftwareHewlett-PackardAutonomyCivil lawsuitsMike Lynch

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Chris Kanaracus

IDG News Service
Show Comments

Cool Tech

Toys for Boys

Skywatcher Dobsonian 8″ Collapsible Telescope

Learn more >

Family Friendly

Whodunnit™ Duo-Scope MFL-007 Microscope Kit

Learn more >

Stocking Stuffer

Logitech Ultimate Ears Wonderboom 2 Bluetooth Speaker

Learn more >

Christmas Gift Guide

Click for more ›

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Tom Sellers

MSI P65

This smart laptop was enjoyable to use and great to work on – creating content was super simple.

Lolita Wang

MSI GT76

It really doesn’t get more “gaming laptop” than this.

Jack Jeffries

MSI GS75

As the Maserati or BMW of laptops, it would fit perfectly in the hands of a professional needing firepower under the hood, sophistication and class on the surface, and gaming prowess (sports mode if you will) in between.

Taylor Carr

MSI PS63

The MSI PS63 is an amazing laptop and I would definitely consider buying one in the future.

Christopher Low

Brother RJ-4230B

This small mobile printer is exactly what I need for invoicing and other jobs such as sending fellow tradesman details or step-by-step instructions that I can easily print off from my phone or the Web.

Aysha Strobbe

Microsoft Office 365/HP Spectre x360

Microsoft Office continues to make a student’s life that little bit easier by offering reliable, easy to use, time-saving functionality, while continuing to develop new features that further enhance what is already a formidable collection of applications

Featured Content

Product Launch Showcase

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?