Former HP Boss Whitman Says ‘Not Protecting Herself’ In Autonomy Fraud Allegation

www.oann.com | 4/30/2019 | Staff
tictac399 (Posted by) Level 3
LONDON (Reuters) – Former Hewlett-Packard boss Meg Whitman denied on Thursday she was trying to protect her own reputation when she accused the leaders of Autonomy, the British software firm HP acquired in 2011, of a fraud that inflated its value by $5 billion.

In a second day of testimony at London’s High Court, Whitman was asked by the counsel for Mike Lynch, Autonomy’s founder and former CEO, why she went public with the claim before questioning Lynch or Autonomy’s auditor Deloitte.

Protecting - Reputation - Expense - Dr - Lynch

“It was about protecting and reinforcing your reputation and you were doing so at the expense of Dr Lynch and (former CFO) Mr Hussain?,” Robert Miles asked Whitman.

“That’s not correct,” she replied.

Someone - Reputation - Facts - Autonomy

“We were not trashing someone’s reputation,” she said. “We were reporting the facts as we knew them and we had been defrauded by Autonomy.”

HP bought Autonomy for $11.1 billion in 2011 as the centerpiece of an unsuccessful pivot to software by Leo Apotheker.

Year - Replacement - Whitman - Improprieties - Misrepresentation

Little over a year later, his replacement Whitman wrote off $8.8 billion, $5 billion of which she put down to accounting improprieties, misrepresentation and disclosure failures.

HP is pursuing Lynch and his former colleague Sushovan Hussain for $5 billion in London’s High Court.

Lynch - Counter - Charge - Autonomy - Value

Lynch, who has counter sued, has denied the charge, saying that Autonomy’s value was damaged by mismanagement by HP.

Whitman was questioned about how HP had calculated the $8.8 billion write down announced...
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