US EditionHP owed over $940 mln by Mike Lynch's estate, ex-business partner, UK court rules
GREATER LONDON, ENGLAND, JUL 22 – A UK High Court judge ruled Mike Lynch's estate must pay £700 million after Hewlett Packard Enterprise proved Autonomy's financial value was overstated, reducing HP's original $4 billion claim.
- In London on Tuesday, Mr Justice Robert Hildyard determined that HPE is owed £740 million over the Autonomy acquisition.
- Following the £8.3bn acquisition, Hewlett Packard Enterprise brought the case after a £5.5bn write-down of Autonomy, claiming the value was 'deliberately overstated'.
- The judge described the claim as 'substantially exaggerated' and calculated the loss at £646 million, according to Mr Justice Robert Hildyard.
- The estate’s limited value could prove insufficient, with about £500 million risking bankruptcy and a November hearing on interest and appeals scheduled.
- The Lynch family is considering an appeal, while HPE said it reached a settlement with Sushovan Hussain earlier this year.
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UK court awards £700 mn to HP in late tycoon's fraud case
A UK court Tuesday awarded £700 million ($946 million) compensation to IT firm Hewlett Packard in a fraud case involving late British tech tycoon Mike Lynch, killed last year when his superyacht sank off Sicily.
·Calhoun, United States
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almost a year after Mike Lynch's death in the Bayesian tragedy that sank off the Sicilian coast in August 2024. Today, the magnate's heritage...
Court rules estate of Mike Lynch, who died when his yacht sank, owes HPE more than $940 million
Hewlett Packard is owed more than £700 million ($943 million) by the estate of late British tech tycoon Mike Lynch and his former finance director after they lost a fraud case involving Lynch’s software company, a UK High Court judge ruled Tuesday.
·Atlanta, United States
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Total News Sources68
Leaning Left12Leaning Right11Center10Last UpdatedBias Distribution36% Left
Bias Distribution
- 36% of the sources lean Left
36% Left
L 36%
C 30%
R 33%
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