British IT entrepreneur Mike Lynch said Hewlett-Packard had failed to produce a "smoking gun" to back its claim that he masterminded a complex fraud to inflate the value of Autonomy by as much as $5 billion before HP bought it in 2011.
The U.S. company is suing Autonomy founder Lynch and former Autonomy finance director Sushovan Hussain in London for in excess of $5 billion in damages over their management of Autonomy, the company it acquired for $11.7 billion.
Lynch said the contents of HP's claim were "a simple rehash of previous leaks and insinuations that add up to one long disagreement over accounting treatment".
"After three years of (HP CEO) Meg Whitman's stonewalling, is this it?," he said in a statement. "HP's claim is finally laid bare for what it is -- a desperate search for a scapegoat for its own errors and incompetence."