Mike Lynch’s estate ordered to pay HP £700m in High Court ruling
Hewlett-Packard (HP) ruled the London Supreme Court judge on Tuesday.
The total is related to malicious acquisition of HP’s British software company Autonomy.
The US technology giant tried to regain the losses of Dr Lynch, who died in 2024, when the luxury yacht sank Sicily and Mr. Hussain.
The HP accused of regulating a detailed fraud to inflate the value of autonomy before the purchase of $ 11.1 billion in 2011, which is a later agreement.
Within a year after the purchase, HP wrote an $ 8.8 billion of Autonomy’s value and filed a $ 5 billion lawsuit against Dr Lynch and Mr. Hussain in London.
In 2022, a judge decided in favor of HP.
Dr Lynch was once praised as Britain’s response to Bill Gates, continuously retained his innocence, and instead accused HP for not being able to integrate HP operations.
He was acquitted of criminal charges against the US agreement and aimed to appeal the Supreme Court’s 2022 decision, a process waiting for the decision of this week on damage.
Accordingly GuardianDr Lynch is estimated to be worth £ 500 million and can be bankrupt by the court decision.
Judge Robert Hildard directed the HP’s losses over 646 million pounds about the difference between what HP pays for autonomy and HP’s “correct presentation of the real financial position of autonomy”.
Hilard also said that HP has won £ 51.7 million pounds and $ 47.5 million in relation to HP’s “Dr Lynch and Bay Hussain’s deception and/or false declarations for false declarations and £ 47.5 million about the losses exposed by group companies.
HP said it was at a hearing in 2024. call Up to 4 billion dollars. Hussain settled in HP earlier this year.
