The Recycler
  • Ambiente 2025 Masthead
  • Biuromax Masthead web banner March 2024
  • G&G Masthead August 2024
  • Katun web banner December 2022 NEW

One man jailed in HP-Autonomy case in the US

May 14, 2019

Sushovan Hussain, the former CFO of Autonomy has been jailed for his role in the sale of the company to HP back in 2011.

The case started in 2015 when Former Autonomy CEO Mike Lynch, alongside Finance Director Sushovan Hussain, were named in a claim filed for $5.1 billion (€4.5 billion) in damages at the UK High Court in April 2015, after HP acquired Autonomy in 2011. In November 2012, HP wrote down its worth claiming that “accounting fraud and inflated financials” from Autonomy officials, including Lynch, were to blame.

In the latest twist in the case, Sushovan Hussain the former CFO of Autonomy has been jailed for five years, The Guardian reported.

According to The Guardian, a jury found Sushovan Hussain guilty of fraud and was fined $4 million (€3.5 million) by a district judge in the US over his involvement in the transaction, as well as ordered to forfeit $6.1 million (€5.4 million).

Both Hussain and Lynch are also subject to a court case which started in March this year in London’s high court. In this case both are accused of fraudulently inflating its value and therefore HP allegedly overpaying for the company in 2011.

This case is still ongoing.

Categories : Around the Industry

Tags : Autonomy Fraud HP Lawsuit

  • IR Italiana Web ad January 2021
  • TN Core Nov Web advert
  • Cartridge Web Nov Web Banner
  • Biuromax web banner July 2024
  • Ink Tank No Web advert
  • GM Technology October 2024
  • Apex September 2024 Web ad
  • Static Control June 2022 Big & Bold Ad
  • G&G web advert October 2024
  • Denner Feb 2024 Web Ad
  • HYB Web banner Jan 2024
  • PCL Nov Web advert
  • ITP Web ad January 2021
  • CET Web ad December 2023
  • Mito Web banner June 2024
  • Zhono Web ad March 2024
  • denner UK Web Banner Jul 2024
  • denner UK Web Banner Jul 2024
  • PCL Nov Web advert
  • Denner Feb 2024 Web Ad
  • ITP Web ad January 2021
  • HYB Web banner Jan 2024
  • Zhono Web ad March 2024
  • CET Web ad December 2023
  • Mito Web banner June 2024
  • HYB Web banner Jan 2024
  • PCL Nov Web advert
  • Zhono Web ad March 2024
  • Mito Web banner June 2024
  • CET Web ad December 2023
  • denner UK Web Banner Jul 2024
  • Denner Feb 2024 Web Ad
  • ITP Web ad January 2021

The Recycler, Wittas House, Two Rivers, Station Lane, Witney, OX28 4BH, United Kingdom | Tel: +44 (0) 1993 899800 | Fax : +44 (0) 1993 226899
©2006-2023 The Recycler - Terms & Conditions - Privacy Policy including cookie use

Web design Dorset | Websites by Mark