One of the biggest headaches for Hewlett-Packard CEO Meg Whitman, who is trying to get the storied Palo Alto corporation back in the financial pink, has been its ill-fated purchase of Autonomy
After paying $11 billion for Autonomy in 2011, the deal went south recently when HP wrote down $8.8 million for the software firm. Claiming Autonomy’s value had been grossly misrepresented to HP, Whitman asked U.S. and U.K. investigators to look into the matter.
In response, the U.S. Department of Justice announced on Nov. 21 that it was investigating. And in a regulatory filing Monday, HP disclosed for the first time that the U.K’s Serious Fraud Office launched a formal inquiry on Feb. 6.