British entrepreneur Mike Lynch artificially inflated revenue at his Autonomy software company before selling it to Hewlett Packard for US$11 ...
LONDON: British entrepreneur Mike Lynch artificially inflated revenue at his Autonomy software company before selling it to Hewlett Packard for US$11 billion, the U.S. firm's lawyer told a London court on Monday.
HP had bought big data firm Autonomy with the aim of making it the centerpiece of a plan to transform HP from a computer and printer maker into a software-focused enterprise services firm, a shift that rival IBM had already pulled off. Lawyer Laurence Rabinowicz QC, representing HP, told London's High Court that Lynch and Hussain had knowingly been involved in"widespread and systematic false accounting" to create a materially false picture of Autonomy's finances.
Lynch observed proceedings from a back corner of the courtroom, occasionally scribbling notes or sending messages on his phone.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Europe: Auto rally power stocks to near six-month peak[BENGALURU] European shares were on course for a fifth day of gains on Tuesday, powered by a strong rally in automakers after Peugeot suggested Fiat Chrysler was among the options for a merger, and as Bank of America Merrill Lynch talked up stocks in the sector. Read more at The Business Times.
Read more »
Elon Musk tweet about Tesla violates settlement agreement, US regulator tells courtA tweet about Tesla Inc production targets by Elon Musk was 'a blatant violation' of a court order to get his written communications pre-approved, ...
Read more »
Court reserves judgment on contempt of court sentences against Jolovan Wham, SDP's John TanSINGAPORE: Activist Jolovan Wham and Singapore Democratic Party's John Tan will have to wait to find out their sentences after both men were ...
Read more »
Speaker deals blow to British PM's bid to revive Brexit dealLONDON: British Prime Minister Theresa May's bid to get her EU divorce deal through parliament was hit on Monday (Mar 18) with a bombshell ...
Read more »
Founder of India's beleaguered Jet Airways quitsIndia's troubled Jet Airways said Monday that founder Naresh Goyal has stepped down as chairman and left the company board as part of a rescue plan.
Read more »
Dulwich College Singapore gets called out by Makansutra founder KF Seetoh for ‘brand theft’Makan-sue-tra. This article, Dulwich College Singapore gets called out by Makansutra founder KF Seetoh for ‘brand theft’, originally appeared on Coconuts, Asia's leading alternative media company. Want more Coconuts? Sign up for our newsletters!
Read more »
‘The struggle is temporary’: SG Bike founders predict bright future ahead for bike-sharingBike-sharing could thrive as Singapore develops its Park Connector Network and build cycle-friendly towns, said SG Bike's senior management.
Read more »
Student at Chinese cultural academy dies, and school’s founder blames family’s sinsA traditional cultural academy in China’s northeastern province of Jilin has been investigated after a nine-year-old student died, apparently of leukaemia, and the school’s founder blamed the child’s parents for his disease, telling them “your family has sinned too many times”. Zhou Zuorui died in hospital
Read more »
Student at Chinese cultural academy dies, and school’s founder blames family’s sins
Read more »