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I remember when HP announced their plan to acquire Autonomy. I was very familiar with their tech and their status in the industry at the time and knew they were
by tootie 1y ago
I remember when HP announced their plan to acquire Autonomy. I was very familiar with their tech and their status in the industry at the time and knew they were approaching irrelevance with no chance to boost sales of anything. They completed the deal anyway, which was followed by HP firing their CEO, lawsuits for misrepresenting their financial status and a complete writedown of the total acquisition cost. It seemed so obvious to me and my colleagues were doing integrations and software procurement and yet HP was completely blinded by everything besides their fabricated balance sheet.
- atombender 1y agoReading about Autonomy, it always confused me that Mike Lynch was found guilty of fraud in the UK but exonerated in the US — what's your take on that?
- pseudolus 1y agoDifferent burdens of proof. The fraud charges in the US were criminal in nature which required a showing of guilt beyond a reasonable doubt. The fraud in the UK arose in the course of a civil trial with a lower burden of proof (balance of probabilities).
- atombender 1y agoWhat's the general consensus, do you know? It seems maybe fraud occurred, but was difficult to prove conclusively?