Autonomy's former CEO defends his record in open letter to Hewlett-Packard
Dr. Mike Lynch, former CEO of Autonomy / Ben Gurr/WPA Pool/ Getty Images
PALO ALTO, Calif. An executive vilified by Hewlett-Packard (HPQ) on allegations of an accounting ruse is stepping up his attack on the company accusing him.
In a letter to HP's board released Tuesday, former Autonomy CEO Mike Lynch defends his record. He also suggests Hewlett-Packard is using the charges of financial shenanigans to cover up damage caused by its own mismanagement.
- Autonomy's ex-CEO denies blame for Hewlett-Packard's $5B loss
- Feds accuse Meg Whitman of enforcing noncompetitive agreement
- Hewlett-Packard shareholder sues company over two key acquisitions
The missive represented Lynch's most extensive remarks since HP accused him last week of deceiving the company about the growth of Autonomy, a business software maker that HP bought for $10 billion last year. He had previously denied HP's accusations.
HP absorbed an $8.8 billion charge to reflect Autonomy isn't worth what the company paid.
In a statement, HP says it stands behind its allegations against Lynch and other former Autonomy employees.
Popular on MoneyWatch
- Reverse cell phone lookup service is free and simple
- Chrysler expected to make Jeep recall refusal official
- Chrysler agrees to recall of Jeeps at risk of fire
- Why geniuses don't have jobs
- 6 ways to pay off your student loans
- Chrysler continues its refusal to issue a Jeep recall
- Top 10 professional life coaching myths
- The Internship: 6 real-life lessons from the movie