Hewlett-Packard has fired the latest salvo in the brewing major battle between HP and the former management of Autonomy.
In a reaction to an open letter sent by Mike Lynch, founder and former CEO of Autonomy, to the Board of Directors of HP, the company said that it is now up for the legal system to determine how they want to deal with Dr. Lynch.
The Autonomy founder said in his letter that he “utterly rejects all allegations of impropriety” and asked “HP for immediate and specific …

Mike Lynch, founder and former CEO of Autonomy, has again stressed his innocence this time in an open letter to Hewlett-Packard (HP) which has claimed that Lynch’s team committed serious accounting improprieties as the companies negotiated an acquisition.
“I utterly reject all allegations of impropriety,” Lynch wrote in his letter in which he also asked HP for all of the specifics of the allegations being thrown his way.
“Having no details beyond the limited public information provided …

The former chief executive officer of Autonomy has come out with a statement categorically denying allegations which were recently made by HP.
“The former management team of Autonomy was shocked to see this statement today, and flatly rejects these allegations, which are false,” a spokeswoman for former Autonomy chief Mike Lynch is quoted by Reuters as saying.
HP has said in a statement that, after an investigation, it found “some former members of Autonomy’s management team used …

Hewlett-Packard (HP) had some harsh words against former owners of Autonomy after it reported its fiscal fourth quarter performance.
The company now believes that Autonomy, which it bought in 2011 for $11.1 billion, was overvalued due to “serious accounting improprieties” on Autonomy’s part.
The statement made by HP follows an internal investigation over the matter and after the company tallied a massive $8.8 billion “impairment charge” on its books for Q4 2012 over its Autonomy …

Hewlett-Packard (HP) has come out with a stern allegation against former owners of Autonomy, the company it acquired for over $11 billion last year.
According to HP, the former owners of the company have committed “serious accounting improprieties”.
HP says that it tallied in its fourth-quarter 2012 earnings report a massive write-off totaling to $8.8 billion as a result of these “improprieties” by former Autonomy owners.
For the third quarter, HP still doesn’t look good although its …

There’s apparently no worry at Hewlett-Packard (HP) about the Microsoft Surface.
That is according to comments made by Todd Bradley, HP PC division boss, in an interview with CITE World.
“I’d hardly call Surface competition,” he told the publication.
According to him, the performance and price of the Surface is its downfall.
“One, very limited distribution. It tends to be slow and a little kludgey as you use it….It’s expensive,” the HP executive is quoted as …

LG is reportedly developing a new webOS smart TV platform based on the open source webOS port Gram.
The news comes to us by way of webOS Nation which says that LG and HP have been working on a webOS smart TV.
According to the publication, “Turns out the first company to use Open webOS in a commercial setting isn’t one you might expect, and they aren’t planning to do it in a form factor that’s rather new for webOS. It’s LG, and they’re making a webOS …

HP stock is technically worthless and is in fact really worth negative $2, an analyst has said.
According to Sterne Agee analyst Shaw Wu, the intrinsic value of HP is at a negative because of a pending $36 billion write-off.
“Their balance sheet is a mess. We calculated—I couldn’t believe this—the tangible book value -$2. The book value, when you look at it, says $16. But you have to take out the $36 billion in goodwill. They are going to write that off, the whole thing at some …

HP and Microsoft will undergo an investigation spearheaded by the US Senate Permanent Subcommittee on Investigations for claims that they practice tax evasion.
Senator Carl Levin, chair of the US Senate Permanent Subcommittee on Investigations, has contended that both HP and Microsoft evaded billions in taxes by stashing away profits abroad.
The tech giants used “loopholes and gimmicks” to circumvent paying large amounts of US corporate income taxes, stated the US …

HP has divulged plans to lay off 2,000 more employees than its previous expectation.
The additional job cuts found in a regulatory filing brings the American multinational company’s total layoffs to 29,000 through October and may cost up to $3.7 billion.
“These initiatives build upon our recent organizational realignment, and will further streamline our operations, improve our processes, and remove complexity from our business. While some of these actions are difficult because they …