Deals
HP Ignored Autonomy Accounting Warnings, Shareholders Say
This article is for subscribers only.
Hewlett-Packard Co. ignored warnings about accounting irregularities at Autonomy Corp. and failed to properly vet its finances before acquiring the British software maker, shareholders said in a lawsuit.
Hewlett-Packard board members performed “no technical due diligence” and the company’s executives and advisers “misrepresented facts to conceal their own failings,” Joseph Cotchett, an attorney for investors, said in a complaint filed yesterday in federal court in San Francisco.