Former managers deny Hewlett-Packard allegations

A software company in Cambridge accused of lying about its finances to Hewlett-Packard - the American company which bought it for more than £7bn last year - has denied the claims.

HP has alleged former members of Autonomy's management misled potential buyers over the company's real value.

An inquiry was launched after a whistleblower at Autonomy came forward with the allegations, which have been denied by the former managers. The case has now been referred to the Serious Fraud Office.

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Cambridge software firm under fire

Bosses at computer giant HP took a £5.5bn hit after accusing former staff at a Cambridge software company it bought last year of misleading investors.