Hewlett-Packard has moved to establish a committee, tasked with investigating the acquisition of Autonomy and potential fraud.

The committee will examine the decision by HP to pay $13.8 billion for the software company now accused of committing fraud in inflating its value.

The news came just before the narrow re-election of the HP board, with the creation of the committee failing to pacify shareholders upset by a dramatic fall in the value of HP shares, prompted by the acquisition’s value falling by $8 billion.

HP Directors John Hammergren and G. Kennedy Thompson only passed with a small majority with 54 percent and 55 percent.

Of the results HP Chief Executive Meg Whitman, said: “My view on the board of directors is that they are helping turn HP around".

UK regulators investigate HP’s acquisition of Autonomy