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Federal Contractor Misconduct Database (FCMD)

The federal government routinely awards contracts to companies with histories of misconduct, including contract fraud and other violations. POGO believes that providing this website will help to improve contracting decisions and increase public knowledge of how the government spends billions of taxpayer dollars each year. Read more…

Autonomy Corp. Acquisition – Shareholder Derivative Litigation

Hewlett-Packard shareholders filed lawsuits against several current and former company officers and directors alleging a breach of fiduciary duties in connection with HP’s acquisition of British software company Autonomy Corporation Plc in 2011. In November 2012, HP announced it was forced to write-down goodwill and intangible assets related to the acquisition by $8.8 billion, nearly 80% of the purchase price, due to serious accounting improprieties, disclosure failures, and misrepresentations by Autonomy. The lawsuits claimed the defendants consciously disregarded indications of Autonomy’s accounting improprieties and gross overvaluation and misled the public about the due diligence they conducted in valuing and vetting Autonomy. In June 2014, a settlement was reached in the Autonomy acquisition litigation, with HP agreeing to adopt enhancements to its policies and procedures in evaluating potential mergers and acquisitions.

Misconduct Type
Securities
Enforcement Agency
Non-Governmental
Contracting Party
None
Court Type
Civil
Disposition
Settlement
Date of Settlement Announcement
6/30/2014
Contractors Involved Penalty
Total
Hewlett-Packard Company $0
Further Information Released
HP Press Release 6/30/2014
Settlement Agreement 6/30/2014
Complaint 11/26/2012

See also:

Federal Contractor Misconduct Database