Audit firms sued in HP’s Autonomy acquisition
NEW YORK (Reuters) – A new shareholder lawsuit over Hewlett-Packard’s acquisition of British software firm Autonomy has named Big Four audit firms Deloitte and KPMG as defendants, alleging they missed numerous red flags about Autonomy’s accounting. The lawsuit, filed on Tuesday in federal court in San Jose, California, also named HP’s board of directors, officers, and former executives, alleging breach of duty and negligence for their role in HP’s acquisition Autonomy. HP is expected to face a barrage of lawsuits by investors seeking to recoup losses. . . .
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