Autonomy Corporation (Photo credit: Wikipedia)

Autonomy's founder is hitting back at HP after it was alleged that his firm, a knowledge management and enterprise search company, adopted dubious accountancy practices to boost its' value before it was sold to HP, during August of 2011. In a WSJ (Wall Street Journal) interview, Lynch stated that HP's accusations were "completely and utterly" false and that he totally rejected them.

Blockbuster Prepares for Bankruptcy

According to sources close to the company, Blockbuster is preparing to file for bankruptcy with plans to close hundreds of more stores as they battle against cheap online options (Netflix) and kiosks (Redbox). The company hopes to convert debt to equity and wipe out debt by filing for Chapter 11 bankruptcy. The company currently has $900 million in debt and hopes to rid itself of most of the debt.