Autonomy founder Mike Lynch creates website to rebut HP allegations
"HP should provide me with the interim report" ... Autonomy founder Mike Lynch. Photo: Bloomberg
Autonomy founder Mike Lynch has stepped up his unusual public defence by launching a website designed to bolster his argument that allegations of accounting fraud are untrue.
Hewlett-Packard made that stunning accusation last week, claiming that Lynch and other Autonomy executives engaged in systematic accounting tricks that inflated the company's revenues before HP acquired it last year.
Rather than offering the standard "no comment" and ducking behind a wall of lawyers, Lynch has been all over TV and newspapers shooting down the notion that anything funny was going on at Autonomy.
The website is called AutonomyAccounts.org and appears to have gone live on Monday.
"This website is maintained by Dr Mike Lynch on behalf of the former management team of Autonomy. The site provides relevant information pertaining to the accusations made by Hewlett Packard (HP) on 20 November 2012 of financial impropriety at Autonomy. The former management team of Autonomy strongly rejects the accusations made by HP," reads the site's "About" page.
The site also contains a timeline of Autonomy events, and Lynch's letter to the HP board, disputing the claims, and demanding more information so he can defend himself:
"Having no details beyond the limited public information provided last week, and still with no further contact from you, I am writing today to ask you, the board of HP, for immediate and specific explanations for the allegations HP is making. HP should provide me with the interim report and any other documents which you say you have provided to the SEC and the SFO so that I can answer whatever is alleged, instead of the selective disclosure of non-material information via background discussions with the media."
And, of course, the site provides a way to contact Lynch for further comment.
Los Angeles Times