Burst of light

A Federal Grand Jury Returns Criminal Indictment against former Autonomy Exec; HPE Comments

On November 14, 2016, the United States Attorney’s Office for the Northern District of California announced that a federal grand jury returned a criminal indictment against former Autonomy CFO Sushovan Hussain. See HPE statement and DOJ press release below.

According to the indictment, Hussain, together with others, conspired with individuals to engage in a fraudulent scheme to deceive purchasers and sellers of Autonomy securities and HP about the true performance of Autonomy’s business, financial condition, and prospects for growth. Hussain and others made false and misleading statements to, among others, regulators and market analysts.  The indictment alleges that HP relied on the accuracy and truthfulness of the statements and disclosures when considering whether to buy Autonomy and at what price.

HPE executive vice president, General Counsel John Schultz said:

“HPE is pleased with the news that a federal Grand Jury has returned an indictment in this matter, alleging that Sushovan Hussain and others acted with fraudulent intent. This is a significant step toward holding Mr. Hussain accountable for his outright fraud and deliberate misrepresentation.”

 

https://www.justice.gov/opa/pr/former-autonomy-cfo-charged-wire-fraud