Hewlett-Packard stunned Wall Street by alleging a massive
accounting scandal at its British software unit Autonomy that
will cost the company the majority of $8.8 billion in charges.
It was the latest in a string of reversals that have renewed
questions about the basic competence of the storied company's
board and senior managers.
HP said on Tuesday it discovered "serious accounting
improprieties" and "a willful effort by Autonomy to mislead
shareholders," after a whistleblower came forward following the
ouster of Autonomy's then-chief executive, Mike Lynch, in May.
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TOP STORIES
> HP takes $8.8 bln charge, blames Autonomy
> INTERVIEW-Former Autonomy boss denies HP charge
FACTBOXES
> FACTBOX-HP's waning star, by the numbers
> TIMELINE-HP's tumultuous decade
BREAKING VIEWS
> HP's Autonomess should devour Marc Andreessen
> HP's Autonomy trouble sown by dysfunction
> HP-Autonomy suggests bankers did not compute
REUTERS INSIDER
> Hewlett-Packard takes $8.8 bln charge
(Compiled by Tim Dobbyn)
Source: http://news.yahoo.com/look-hp-takes-huge-charge-accuses-autonomy-232742572--sector.html
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