“H-P Deal Leads to Indictment,” The Wall Street Journal, November 12, 2016 B4. Autonomy’s former CFO indicted for fraud in the sale of the company to Hewlitt-Packard.
This was fairly bog-standard alleged fraud, albeit on a much grander scale (nearly $9 billion). Follows a $100 million payment by H-P to some of its shareholders.
Is this a value-of-information case or a value-of-compliance case (for Autonomy)? Or just poor due diligence by H-P? How did Autonomy’s board miss this? How did H-P (and it’s lawyers and investment advisers) miss this, pre-acquisition? Might this be worthy of another post- Caremark decision on negligent oversight? If not, what will it take to hold a board liable for failing to meet its fiduciary duties?
infogovnuggets 