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Autonomy founder Mike Lynch still wants details on HP allegations

December 21, 2012|By Chris O'Brien
  • Former Autonomy CEO Mike Lynch says he doesn't understand how the revenue issues involved could have possibly led to such a large write-down.
Former Autonomy CEO Mike Lynch says he doesn't understand how the… (Chris Ratcliffe/Bloomberg )

After Hewlett-Packard's Nov. 20 announcement that it had uncovered massive accounting fraud at Autonomy, founder Mike Lynch launched a very public campaign to fight back. 

HP bought the British software company for $11 billion in 2011. But things went south almost immediately. Lynch was fired last May after Autonomy reported disappointing numbers.

Following last month's allegations, Lynch granted a flurry of initial interviews and launched a website called AutonomyAccounts.org. Then he went quiet. Until now. 

Lynch has updated the website with a new post, saying he's still waiting for the details on HP's allegations that he had previously requested. And he said he's hoping some of the details will appear in HP's annual statement, which should be filed with federal securities regulators any day now. 

"In the absence of greater clarity from Meg [Whitman, HP's chief executive], we are looking now to HP’s 10-K filing that is due before the end of the year," Lynch wrote. "This document should contain information about finances and management that all American businesses are required to lodge each year with the U.S. Securities and Exchange Commission. We look forward to HP providing in it a comprehensive disclosure and explanation of its position and calculations."

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Lynch also repeated his assertion that he doesn't understand how the revenue issues involved could have possibly led to such a large write-down.

"I won’t go into the detail of our rebuttal again, for it is set out clearly in the open letter published here on the site," Lynch wrote. "All I will say is that I look forward to this situation being resolved as soon as possible."

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Follow me on Twitter @obrien.

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