HP Wins £700M Damages in Autonomy Fraud Case

A London High Court has ruled that the estate of Mike Lynch, former Autonomy CEO, and his ex-business partner Sushovan Hussain must pay Hewlett Packard over £700 million ($944 million) in damages for misleading HP about Autonomy's financial performance during the 2011 acquisition. The awarded sum is significantly less than the $4–$5 billion originally sought by HP. The ruling was issued nearly a year after Lynch's death in a yacht accident, and his estate, valued below the damages owed, faces effective bankruptcy. Lynch, who maintained his innocence and was acquitted of related US criminal charges, had criticized HP's initial claims as exaggerated. A further hearing in November will address potential appeals and the division of damages. HP welcomed the court's decision, and Lynch's family is considering an appeal.