HP claims fraud prompted $5B overpayment for firm

HP claims fraud prompted $5B overpayment for firm

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Thomas Lohnes/Associated Press file photo



Leo Apotheker was CEO of Hewlett-Packard Co. when the computer maker bought Autonomy, a British software firm. Hewlett-Packard Co. said Tuesday Autonomy, which it bought for $9.7 billion, lied about its finances, resulting in a massive write-down of the value of the business. The deal was green-lighted Apotheker, but it closed in October 2011, three weeks into the tenure of Meg Whitman, HP’s current CEO.
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