Remember how that Hewlett-Packard acquisition of data intelligence firm Autonomy turned really nasty?
Well, here's a refresher...
The Palo Alto, Calif.-based company, which purchased Autonomy for about $11 billion in 2011 and took an $8.8 billion accounting charge related to the acquisition a year later, has accused the two former executives of engaging in fraudulent activities that overvalued the British technology company.
Turns out that Autonomy is not taking that sh!t lying down...
On Thursday, Mike Lynch, the founder of Autonomy, sued HP in British court for $150 million, accusing the American tech company of making false and negligent statements about him and other former Autonomy executives.
But Lynch is also straight-up pissed, and he's making this personal.
Mr. Lynch, who has been a vocal critic of Meg Whitman, HP’s current chief executive, has denied the claims of wrongdoing, and said that he looked forward to showing his actions had not undermined the multi-billion dollar acquisition.
“By taking these steps, we can take control of the process,” Mr. Lynch said in an interview on Thursday. “We want to get Meg Whitman in court.”
Usually when people go nuts on an HP CEO, they're talking about Carly Fiorina, but Lynch is out for blood with Whitman. And the enmity appears to be shared.
In response, HP said that Mr. Lynch’s lawsuit was a “laughable and desperate attempt to divert attention from the $5 billion lawsuit HP has filed.”
“HP anxiously looks forward to the day Mr. Lynch and Mr. Hussain will be forced to answer for their actions in court,” an HP spokeswoman said in a statement.
This appears to be another case of once everyone gets everyone in court, everyone is going to have everyone right where everyone wants them.
Until there's more news on this, feel free to follow along on Lynch's online HP burn book, because he made one and he's still maintaining it.