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Posted by on Nov 20, 2012 in Companies, Economy |

HP is cheated by anything less than USD $8,800 million

HP is cheated by anything less than USD $ 8,800 million

is having a very bad economically , and now it rains, it pours. Because apparently were victims of a scam, and no less than USD $8,800 million. It turns out that last year, HP acquired a British firm that was involved in software called Autonomy, by the great figure of $10,300 million. At that time, HP told her statement was good, so the insurance business looked.

But now they would have discovered that Autonomy had presented erroneous accounting documents, who painted things better than they were in reality, which came to light thanks to a long and tedious internal investigation conducted by HP.

According to HP CEO Meg Whitman, they will seek some compensation after the scam, which meant a payment of $8,800 million to fix the situation. “HP is extremely disappointed to learn that some former members of the management team in Autonomy used improper accounting, misrepresentations and failure to inflate the finances of the company before its acquisition by HP. These efforts were erroneously to guide investors and potential buyers, severely impacting the ability of HP to value properly Autonomy when did the business, “Whitman ended.

Link: HP reports $ 8.8 billion ‘impairment charge’ Allegedly due to fraudulent accounting Autonomy (The Verge)

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