in ,

Now that they’ve won the lawsuit, HP wants $4 billion from Mike Lynch’s estate.

Read Time:1 Minute, 16 Second

Based on a winning case in the UK in 2022, HP is now going after the estate of British tech billionaire Mike Lynch for up to $4 billion. Lynch died in August when his yacht capsized off the coast of Sicily. He had been in a court fight with HP for a long time after selling his company, Autonomy, for $11 billion in 2011.

HP said Lynch lied to them by exaggerating Autonomy’s sales numbers, which caused a $8.8 billion value gap just one year after the purchase. In the US, Lynch was found not guilty of theft earlier this year. However, in 2022, a UK high court judge found in favor of HP and said that Lynch and Sushovan Hussain, Lynch’s former finance head, had lied to the company.

Even though Lynch denied the claims until the day he died, HP is still set on completing the case. They said in a statement that they were going “to follow the proceedings through to their conclusion.”

The exact amount HP will get has not been decided yet, but the judge said it is likely to be “substantially less than is claimed.” Lynch died while on a boat trip to celebrate being found not guilty in the U.S. Angela Bacares, his wife, was one of the people who lived through the accident. Lynch, their daughter, and five other people died.

HP’s lawsuit against Lynch’s estate for damages is the last part of a court battle that has been going on for ten years.

See also  Business Schools Use AI to Create Graduates Who Are Ready for the Future

What do you think?

Researchers Shocked When an 8-Foot Shark Is Eaten by a Predator: Who Did It?

Emma Navarro makes a dramatic comeback at the US Open, setting up a match in the semifinals between her and Aryna Sabalenka.