Hazel Thompson for The New York TimesMike Lynch, who founded Autonomy, is challenging H.P.’s assertions about accounting fraud.Mike Lynch, the founder of the British software company Autonomy, is not about to walk away from his fight with Hewlett-Packard over the technology giant’s claims of accounting fraud.
In fact, he apparently intends to keep the battle very public.
On Monday, Mr. Lynch set up AutonomyAccounts.org, a Web site meant to house his responses to the controversy swirling around his former company. So far, it contains very little: his open letter to Hewlett’s board contesting its accusations; a video of an interview he conducted with CNBC two weeks ago; a timeline of Autonomy’s history; and his biography.
But he has been very openly pushing back against H.P.’s campaign against Autonomy, which it bought last year for about $10 billion.
The company has said there were “serious accounting improprieties, disclosure failures and outright misrepresentations” at the British software maker and has taken an $8.8 billion accounting charge tied to the deal. It has referred its internal inquiry to securities regulators in the United States and Britain. The Justice Department is also investigating the matter.
Mr. Lynch has argued that Autonomy followed all relevant British accounting guidelines and that its financial statements were approved by the company’s auditors at Deloitte. He also has said that H.P.’s mismanagement of its newest division was responsible for the enormous loss of value.