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HP 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, risking bankruptcy given its £500 million valuation, and a further hearing on interest and appeals is set for November.
- The Lynch family is considering an appeal, while HPE said it reached a settlement with Sushovan Hussain earlier this year.
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Sydney Morning HeraldReposted by 
The Age
The AgeEstate of tycoon who died in luxury yacht tragedy ordered to pay billions to Silicon Valley giant
Tech tycoon Mike Lynch was the subject of a long-running legal saga when he and his daughter perished off the Italian coast last year.
·Sydney, Australia
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InsideNoVA.com+44 Reposted by 44 other sources
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.
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...
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Total News Sources87
Leaning Left15Leaning Right12Center15Last UpdatedBias Distribution36% Left, 36% Center
Bias Distribution
- 36% of the sources lean Left, 36% of the sources are Center
36% Center
L 36%
C 36%
R 29%
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