Ex-Autonomy CEO Mike Lynch sues HP for $150m+

Autonomy founder and ex-CEO Mike Lynch is suing HP for at least $150m (£100m) in damages over its assertion that he helped cook the books to inflate the price it paid for the software firm. Back in the summer of 2011, HP forked out $10.7bn to acquire Autonomy. Little over a year later, the US giant accused Lynch of …

[Aristotles slow and dimwitted horse]

HP Sauce

Way to go Mike. This utter fiasco is just another example of HP doing BAU.

Anyone know when this actually goes to court? Looking forward to following the progress.

[Your alien overlord - fear me]

Good luck waiting for a comment from HP - they haven't brought a multi-billion dollar PR company yet.

[theblackhand]

RE: multi-billion PR company

Isn't a multi-billion PR company just a $100 PR company that convinces HP to buy it?

Hmm - this might be a business opportunity. I'll start by approaching Larry with my "business" and getting rejected and putting a note in my accounts saying "we don't make any money yet, but these projections show we could make billions". Now I just have to sit back and wait....

[Ilsa Loving]

Re: RE: multi-billion PR company

I think it would be more accurate to say that they would by a multi-billion dollar PR company, but HP would manage it so badly that it would only be worth $100 by the time the ink has dried on the contract.

[David 132]

Re: RE: multi-billion PR company

HP would manage it so badly that it would only be worth $100 by the time the ink has dried on the contract.

This being HP, the ink to print that contract would have cost more than that.

[Ben Liddicott]

Risky strategy

... Oscar Wilde anyone?

[Anonymous Coward 101]

Re: Risky strategy

Dead Irish writer. Supposed to be quite good.

[dogged]

I get all this but find it hard to believe that Autonomy wasn't overpriced. Everything else HP ever bought was.

[jonathanb]

The commentards here said it was overpriced at the time. Look back at the archives from the time the deal was going through.

[Paul Crawford]

Can anyone point to an HP acquisition that is a success?

[FozzyBear]

Wait a minute

.

.

Ok I'm in my comfy chair and I have my popcorn. Continue!

[Anonymous Coward]

3PAR. I suspect HP would have ceased to be a storage vendor without it.

[Anonymous Coward]

On the other hand , what about all the people who lost their jobs at HP over this

[channelswimmer]

How soon we forget

Lynch tried to sell Autonomy to Oracle for $6bn, and that was rejected as overpriced. HP shouldn't have subsequently bought it for $10bn, but they should at least have done some due diligence.

http://www.oracle.com/us/corporate/press/503333

[RoboticRabbit]

Personally I would trust Richard Nixon more than I would trust HP.