I don’t really see the problem. If the books are accurate, the accounting treatments to GAAP, the financials audited, the diligence executed faithfully… well, yeah, if they buyer overpaid that seems like a poor business decision on the buyer’s part.
A big "if." That seems to be what the trial was about, although I have to admit I haven't followed the evidence. I didn't even know this trial was taking place.
Usually the auditors have to sign off on the books, and they're the ones who get sued if they fail to detect fraud.
But yeah, HP management's got to be making Dave and Bill spin in their graves. The real carrier of the HP legacy is Agilent and its spinoffs.
indeed - Lynch lost a civil fraud case over the matter in a British court in 2022.
HP sued its founder and former chief financial officer, claiming they "artificially inflated Autonomy's reported revenues, revenue growth and gross margins".
Mr Justice Hildyard said HP had "substantially won" its case.
