(Updated to reflect HP statement in 7th and 8thparagraphs)
NEW YORK ( TheStreet) -- Hewlett-Packard (HPQ) set off fireworks in November when it said it was the victim of an accounting fraud related to its $11.1 billion acquisition of British software specialist Autonomy. Now, a late Thursday filing shows the U.S. Department of Justice is investigating HP's Autonomy unit.
However, the company remains notably silent on the investigation and is likely to have little new to say about the Autonomy deal in 2013.
As enforcement agencies pick up what HP said started as an internal investigation on whistleblower claims of fraud, all signs point to the company maintaining silence on those allegations now that legal authorities are investigating them.HP's silence is consistent with its previous statements when first disclosing the fraud allegations; however, it also means the investigation may prove to be a distraction in 2013 as the PC giant tries to execute on a highly uncertain software and services transformation. Meanwhile, the investigation may be a crucial test to HP chief executive Meg Whitman's reputation after she and the company's board supported the Autonomy deal in late 2011 and pinned most of this year's writedown on the recently uncovered alleged fraud. HP shares, which are the worst performer in the Dow Jones Industrial Average in 2012, fell over 2.5% in Friday trading to $13.68, putting year-to-date losses at over 45%. "HP has been very transparent about the issues relating to Autonomy and the reasons why we announced an $8.8 billion non-cash impairment charge on November 20th," the company said, in an emailed statement on behalf of spokesperson Michael Thacker. The statement, which came after the publication of this article and a brief phone conversation with Thacker where he declined to comment beyond HP's Thursday filing added, "
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