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H-P, Autonomy Blame Game

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  • Description

    FBN's Shibani Joshi on the latest on the H-P, Autonomy fraud allegations.

  • Duration 2:21
  • Date

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The battle between HP and former autonomy CEO Mike Lynch and basis with both sides actually trading jabs today -- and Jesse.

And -- in this story -- money.

Hi Tracy -- be the first to admit that all they sat in this whole sideways a little bit Maki we're talking about it accounting irregularities -- way that this company.

I tonne -- the reportedly recorded revenues.

On the watch your side what is not want -- about the situation is how this is so publicly unfolding now.

Within the last hour so I brought -- a public statement that Mike Lynch the former CEO of autonomy put out into the -- Saying quote HP -- remind me with the interim report -- any other documents.

That you say that alleges that we did anything wrong instead of selective disclosures to the public's.

HP firing back within the last hour saying.

We believe that didn't get that up again we believe we have uncovered extensive evidence of a -- for -- for it.

On behalf of certain former autonomy employees to inflate the underlying financial metrics.

We believe that the legal process is -- -- method in which to bring out the facts we look forward to hearing doctor relation any other -- autonomy employees answer.

Two questions under that penalty of perjury this company is looking to take this into the legal process into courts.

Lots of questions about what autonomy has done with its records and its reporting.

Opt for many years even before HP Bok bought it but the company has to look inside of -- -- as well.

You know there's been a lot of finger pointing -- -- Tony Bennett Hewlett-Packard does have a fair amount to explain for itself remember.

HP did content king did conduct meticulous.

Due diligence also the company has a history overpaying for deals remember the EDS deal weren't taken -- billion dollar write down.

And then Meg Whitman a company CEO she herself are proved that the autonomy purchase while she was a board member.

She had the ability.

And debt and range to kill the deal even when she took on the CEO role she did not do that -- internal questions need to be answered.

But also larger questions outside of HP as well it's getting played out in the public and of course in the legal system we'll see how all of this develops.

Every day there's something with these guys.

There is it's not just good to have you back -- and that's really.

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