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HP Knew We Were Dodgy: Lynch

HP Knew We Were Dodgy: Lynch

Lynch told the court H-P was informed that hardware sales and growth rates had been boosted by different accounting rules.

H-P is suing Lynch, and former Autonomy finance director Sushovan Hussain for damages of about US$5.1 billion for their management of Autonomy.

The case comes as revelations emerged that, just days before H-P announced its disastrous acquisition, chairman Ray Lane mounted a last-ditch effort to get H-P’s then-CEO Leo Apotheker to quash the deal.

The information came to light in an analysis of the acquisition commissioned by H-P and written by the company’s legal firm, Proskauer Rose, in early 2014.

After the deal went through, Lane emailed Apotheker to say he was concerned Autonomy was a so-called “roll-up”: ie, a company whose growth was dependent on acquisitions rather than organic growth.