Former Autonomy CEO Mike Lynch wrote a scathing two-page open letter to the Hewlett-Packard (NYSE:HPQ) board of directors that was made available to the public today. The letter questions the claim from HP management last week that Autonomy grossly misrepresented its finances to fetch a higher price before HP purchased Autonomy last year. HP claims Autonomy's misleading numbers accounted for $5 billion of HP's $8.8 billion writedown.
Lynch responds in the letter, saying, "I utterly reject all allegations of impropriety." He went on to request that HP "publish the calculations of the relative contribution for revenue, cash flow, profit and write down" for a number of HP's claims made against Autonomy last week. Lynch goes on to question how the alleged issues with Autonomy could have continued under the radar during HP's "due diligence process and HP's financial oversight of Autonomy for a year from acquisition until October 2012."
The letter also questions how many Autonomy employees departed or resigned from the company since September 2011, as well as why HP execs waited six months to come public with these allegations aimed at Autonomy.
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