Former Autonomy Corp. chief executive officer Mike Lynch said the claim by Hewlett-Packard Co. that more than $200 million in improperly recorded revenue led to a $5 billion write-down does not make sense.
"After being ambushed by all this yesterday, I've had a chance to look at some of the things that they're saying. It just doesn't add up," Lynch said Wednesday. "HP is looking for scapegoats, and I'm afraid I'm not going to be one of those."
Hewlett-Packard recorded an $8.8 billion write-down Tuesday and said more than $5 billion stemmed from accounting irregularities at Autonomy, which it bought last year. More than $200 million of Autonomy's revenue had been recorded improperly over a two-year period starting in 2009, according to Hewlett-Packard's general counsel. The company said it had notified regulators in the United Kingdom and the United States, and would consider civil litigation.