Hewlett Packard won’t drop its $4 billion UK claim against Mike Lynch, who died along with his daughter when his yacht sank
CNN
London — Hewlett Packard Enterprise has said it won’t drop its UK claim for damages against the estate of British tech mogul Mike Lynch, who died when his superyacht sank last month.
London — Hewlett Packard Enterprise has said it won’t drop its UK claim for damages against the estate of British tech mogul Mike Lynch, who died when his superyacht sank last month. Britain’s High Court in 2022 ruled mostly in favor of the US technology company, which accused Lynch and his former finance director of fraud over its $11 billion takeover of his software company Autonomy. Hewlett Packard is seeking up to $4 billion in damages and the judge is expected to issue a decision on the final sum soon. Lynch’s widow, Angela Bacares, could now be liable for the damages. Lynch died when his yacht, the Bayesian, sank in a storm off Sicily on August 19. Months before the sinking, Lynch was acquitted in a separate US criminal trial of fraud and conspiracy charges in the deal. Hewlett Packard initially celebrated the costly acquisition of Lynch’s company in 2011 but quickly came to regret it. The company said in a statement Monday that it had “substantially succeeded” in its civil fraud claims against Lynch and Sushovan Hussain, the former finance director. “It is HPE’s intention to follow the proceedings through to their conclusion.”
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