View the article online at http://citywire.co.uk/wealth-manager/article/a636030
‘Ambushed’ Autonomy founder rejects HP accounting claims
by Dylan Lobo on Nov 21, 2012 at 08:11
When asked how he thought HP arrived at this conclusion, Lynch said: ‘The only concept I have of it is that it does seem to be coincident with them releasing the worst set of results in their 70-year company history.
He added: 'There was a series of mismanagement steps. They lost hundreds of talented people at Autonomy. The whole management team basically went out of the door. Sadly they are left with the results of having destroyed all that value. Now they are trying to cover it up with this big write off.'
In an exclusive interview with Wealth Manager yesterday, Artemis UK Growth fund manager Tim Steer (pictured), who was shorting Autonomy at the time of the deal, also criticised HP saying Autonomy’s problems were ‘written all over the accounts’.
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