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80,258 News Articles

Hewlett Packard takes $8.8 billion charge, says it was misled prior to Autonomy acquisition

Hewlett Packard released its fourth-quarter financial results ahead of schedule Tuesday morning, including a charge for $8.8 billion related to its acquisition of U.K. software firm Autonomy. HP says the bulk of the charge, for impairment of goodwill and intangible assets, is "linked to serious accounting improprieties, disclosure failures and outright misrepresentations at Autonomy Corporation plc that occurred prior to HP's acquisition of Autonomy."

(more to come)


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