The Serious Fraud Office (SFO) has abandoned its probe of an inquiry into Autonomy, taken over by Hewlett Packard.In a statement, it said there was insufficient evidence for any chance of a realistic prospect of conviction.
HP had accused Autonomy founder and CEO Mike Lynch of fraud related to the sale – an allegation that Lynch has consistently denied.
However, US authorities continue to investigate the acquisition of Autonomy by HP.
The SFO said: “On application of well established principles, jurisdiction over the investigation has been ceded to the US authorities, whose investigation is ongoing.”
HP bought Autonomy for $11.1 billion but then claimed it was worth $8 billion less than it had paid a year later.
