HP seeks billions in damages from Mike Lynch’s estate in UK court case
Despite Mike Lynch’s death, Hewlett Packard is determined to pursue its $4 billion lawsuit over alleged fraud in the $11.1 billion Autonomy deal.
Hewlett Packard announced it will continue legal proceedings in the United Kingdom to claim up to $4 billion in damages from the estate of British billionaire Mike Lynch. The case stems from HP’s acquisition of British software company Autonomy in 2011, which was later marred by allegations of fraud. Lynch, who co-founded Autonomy, had been accused of inflating the company’s value ahead of the $11.1 billion deal but denied any wrongdoing.
In 2022, HP won a civil case against Lynch, though a UK High Court judge ruled that damages would be less than the $5 billion HP initially sought. Despite Lynch’s death in August when his yacht sank off Sicily, the company remains committed to pursuing the legal process. HP maintains that the fraud caused substantial financial losses and is seeking compensation from Lynch’s estate.
Lynch’s family has not issued a statement following HP’s latest announcement. HP had originally filed the lawsuit against both Lynch and Sushovan Hussain, Autonomy’s former chief financial officer, over the accounting scandal discovered in 2012.
The legal battle is one of the largest corporate fraud cases in the UK, centring on HP’s claim that it was misled during one of the country’s biggest tech deals. HP is determined to see the case through to its conclusion.
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