Autonomy's Former CFO Sushovan Hussain Convicted Of Fraud In HP Deal

(RTTNews) - A U.S. federal jury has found Autonomy Corp.'s former Chief Financial Officer Sushovan Hussain guilty of falsifying financial statements and value of the company to arrive at the $10.3 billion price Hewlett-Packard Co. paid for its acquisition more than six years ago.

The jury in San Francisco federal court voted to convict Hussain Monday on all 16 counts of wire and securities fraud after a six-week trial.

The British software maker was sold to Hewlett-Packard in 2011. Later, HP wrote down its value by $8.8 billion, citing fraud by Autonomy, and asked the U.S. Justice Department to investigate.

HP is said to be heading towards a trial in London next year in a $5 billion civil suit against Hussain and Autonomy co-founder and former Chief Executive Officer Mike Lynch.