HP shares tumble on $5B Autonomy charge

Hewelett-Packard's shares fell 12% in New York trade after the company said it was taking a $5 billion charge against "serious accounting improprieties" it said it had uncovered at Autonomy, the U.K. software company it acquired last year for $11 billion. Former Autonomy chief executive Mike Lynch, who was pushed out in May, "flatly rejected" HP's allegations. The disclosure is the latest blow for leadership at a company that has suffered through years of botched deals, management tumult and strategic missteps, and puts more shareholder pressure on management that just three months ago announced an $8 billion write down related to its earlier acquisition of EDS.