Hewlett Packard Enterprise (HPE) is set to continue its legal battle to recover up to $4 billion in damages from the estate of late British tech entrepreneur Mike Lynch. Lynch, who co-founded the tech company Autonomy, passed away last month when his yacht sank off the Italian coast.
The damages sought by HPE stem from a civil lawsuit accusing Lynch of fraud related to Autonomy’s sale to Hewlett Packard in 2011. Lynch had denied the allegations. In 2022, a UK court ruled largely in favor of HPE, finding Lynch and his co-defendant, Sushovan Hussain, guilty of fraud.
Despite Lynch’s death and the tragic loss of six others in the yacht sinking, HPE remains committed to pursuing the damages. The company emphasized its duty to recover funds for its shareholders, stating, “Dr. Lynch’s death is a tragedy, but it does not change the fact that the Company was a victim of fraud, and we have a responsibility to recover damages.”
Earlier this year, Lynch was acquitted of charges brought by the U.S. government related to Autonomy. He expressed relief at the verdict and looked forward to returning to the UK and focusing on his family and work.
HP’s acquisition of Autonomy for $11.1 billion in 2011 was one of the largest tech deals in the UK. However, by late 2012, HP had uncovered significant accounting issues at Autonomy, leading to a major write-down of the company. Lynch, who founded Autonomy in the late 1990s, had been at the center of legal and financial controversies surrounding the company’s sale.
