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BRIEF-HP CEO says board relied on audited financials while acquiring Autonomy
November 20, 2012 / 2:10 PM / 5 years ago

BRIEF-HP CEO says board relied on audited financials while acquiring Autonomy

SAN FRANCISCO, Nov 20 (Reuters) - Hewlett-Packard Co : * CEO says has contacted SEC’s enforcement division, UK’s serious fraud office

on autonomy * CEO says accounting issues were ‘discovered through an internal investigation

after a senior member of autonomy’s leadership team came forward’ * CEO says have requested SEC, UK’s fraud ofice to open criminal, civil

investigations into the matter * CEO says company intends to ‘seek regress against various parties’ in

appropriate civil courts on autonomy to recoup ‘what we can for our

shareholders’ * CFO says $5 billion of write down is related to accounting issues with

autonomy acquisition, rest of charge is linked to recent trading of HP stock * CEO on autonomy deal: ‘most of the board was here and voted for this deal and

we feel terribly about that’ * CEO says HP board relied on financials by deloitte, had hired kpmg to audit

deloitte then * CEO says both deloitte, kpmg did not see issues in autonomy’s accounting * CEO says former CEO leo apotheker, former startegy chief shane robison were

responsible for autonomy deal * CEO says autonomy probe will take time as SEC, UK agency investigate * CEO says ‘suspect this is a multi-year journey through the courts in both

countries’ * CEO says SEC, UK’s serious fraud office has yet to determine whether they

will pursue autonomy case

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