Mike Lynch launches personal website to defend himself against allegations
In a recent turn of events, technology giant Hewlett-Packard (HP) is embroiled in two lawsuits, alleging misleading information about the financial status of its subsidiary, Autonomy. The lawsuit, filed last week, accuses HP of concealing the true financial state of Autonomy, a British software company it acquired in 2011 for $11.7 billion. One of the lawsuits also names the auditors Deloitte and KPMG as defendants, for failing to spot alleged accounting irregularities. The law firm representing the plaintiffs is Quinn Emanuel Urquhart & Sullivan, a renowned international litigation firm. In response to these allegations, HP has stated that the information would be made available in court. Interestingly, a new site has been launched, containing a timeline of Autonomy's rise and a biography of its former CEO, Mike Lynch. Lynch, who was at the helm of Autonomy when it was acquired by HP, has been a central figure in these allegations. It is reported that Lynch requested HP to provide interim reports and other documents provided to the SEC (Securities and Exchange Commission) and SFO (Serious Fraud Office) during the acquisition process. The documents are yet to be disclosed publicly. The unfolding events surrounding Autonomy's financial status and HP's role in the acquisition are being closely watched by investors and industry experts alike. As more details emerge, it will be interesting to see how this story unfolds.
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