The Wall Street Journal: Ex-Autonomy exec found guilty of fraud in Hewlett-Packard deal

A federal jury found Autonomy Corp.’s former financial chief guilty of falsifying financial statements and exaggerating the British software maker’s value before its sale to Hewlett-Packard for $11 billion in 2011.

If upheld, the fraud conviction of Sushovan Hussain after a six-week trial in San Francisco would offer some vindication to HP executives who have long alleged Autonomy’s management cooked the books before one of its biggest acquisitions.

HP HPQ, -0.56% initially billed the acquisition as key to transforming itself into a software powerhouse and anchor its forays into hot fields like data and analytics. Instead, the deal was an embarrassment for HP, which took an $8.8 billion charge and grappled with shareholder lawsuits.

>>> Original Source <<<