The ongoing saga surrounding HP's ill-fated Autonomy acquisition continued on Tuesday with the company's announcement that it will pay $US100 million in a settlement agreement with PGGM Vermogensbeheer B.V.
The UK's Serious Fraud Office may have dropped its investigation of software firm Autonomy earlier this year, but that doesn't appear to have done much to allay HP's ire. HP -- which acquired Autonomy in 2011 -- has confirmed that it plans to sue Mike Lynch and Sushovan Hussain, Autonomy's former CEO and CFO, for $5.1 billion.
U.K. regulators have closed their investigation into Hewlett-Packard's botched acquisition of Autonomy, a British software company that HP has accused of inflating its value and of improper accounting.
Autonomy founder Mike Lynch says he has obtained a Hewlett-Packard document that shows how differences in accounting standards, not fraud on Autonomy's part, are to blame for the debacle surrounding HP's acquisition of the company.
Hewlett-Packard has fired back at a former Autonomy executive who is attempting to block the settlement of a number of shareholder lawsuits filed over HP's disastrous acquisition of the infrastructure software vendor.
Hewlett-Packard's November 2012 decision to write off billions of dollars in connection with the acquisition of infrastructure software vendor Autonomy continues to dog the company as it prepares to face shareholders at an annual meeting Wednesday.