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Breaking news first response from the former HP CE Hewlett-Packard CEO Leo apotheker.
For that well -- it and this major set back at the company that came out this one.
Thanks Don Adam Shapiro is not a problem not that is your money -- out of we're talking about a potentially billion dollar fraud for lack of better term in the acquisition of economy by HP let's get straight to the comments from mr.
apotheker in which he -- That he is stunned disappointed to learn of the that a -- alleged accounting improprieties.
And that tonne of the economy due diligence process.
Was meticulously in thorough so -- the players in all of this well the former CEO of HP.
apotheker who oversaw the acquisition of economy.
All along we eight.
He is former chief strategy officer judge -- Shane Robison.
And then of course Mike Lynch the founder of economy.
HP this morning putting up a press release saying.
That -- first learned of the improprieties in the accounting and in what was presented to HP as they were purchasing economy.
After -- step down and -- senior management leader at a time became forward they hired price Waterhouse Coopers conduct an independent forensic.
-- counting process and after they discovered this.
Impropriety they've now turned it over to the SEC.
The serious fraud office in the UK they will not comment if also the Department of Justice is involved.
Meg Whitman making the rounds today saying that and this is a direct quote in reference to -- -- -- And mr.
up attacker that two people that should have been held responsible.
Now to sum all of this there are still serious questions as to what -- on with the due diligence process.
Meg Whitman saying that Deloitte and Touche as well as KPMG.
Are off the hook that they can't be held responsible for missing this problem.
But this leads to another question Mark Hurd the former CEO at -- people for apotheker.
He was it Oracle.
And autonomy was shocked Oracle and he knew on April 1 2011 as a statement a press release from Oracle saying.
Hurd told mr.
lynch that -- the current market value of six billion dollars a Tommy was already extremely overpriced.
If Mark Hurd knew that.
How did HP -- it.
How to Deloitte and two Schmidt said -- -- KPMG -- Back to you.
All very good questions Adam thanks -- that Adam -- more.
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