HP to Continue $4 Billion Damages Case Against Mike Lynch
Hewlett Packard said Monday it would continue legal proceedings to seek up to $4 billion in damages from British billionaire Mike Lynch’s estate in the UK.
Lynch, who died in August when his yacht sank off the coast of Sicily, had denied any wrongdoings.
“It is HPE’s intention to follow the proceedings through to their conclusion,” the company said in an emailed statement to Reuters.
Related: HP Claims $4 Billion Losses in London Lawsuit Over Autonomy Deal
HP had bought Autonomy for $11.1 billion in 2011 in one of the UK’s biggest tech deals. But in late 2012 the company said it had discovered a massive accounting scandal at the British tech firm.
In 2022, HP won a civil case against Lynch but a High Court judge said that any damages would be less than the $5 billion HP had claimed.
A spokesperson for Lynch’s family said they did not have any comment to share at this stage.
The company had filed the lawsuit against both Lynch and Autonomy’s former chief financial officer, Sushovan Hussain.
(Reporting by Sourasis Bose in Bengaluru; Additional reporting by Catarina Demony; Editing by Mark Porter)