London’s High Court ruled on Tuesday that Hewlett Packard Enterprise is entitled to recover more than £700 million ($944 million) from the estate of Autonomy founder Mike Lynch and the software firm’s former chief financial officer, Sushovan Hussain. The decision follows the court’s 2022 finding that the pair fraudulently inflated Autonomy’s value ahead of its 2011 sale to HP for $11.1 billion. Judge Robert Hildyard calculated that HP overpaid by about £698 million when it paid £25.50 a share for Autonomy instead of the £23 he said reflected the company’s true financial position. He also awarded the U.S. technology group a further $47.5 million for losses tied to hardware sales and other transactions, bringing the total damages to roughly £730 million. While the amount is well below the up to $4 billion HP had pursued, it exceeds the estimated £473 million value of Lynch’s estate. The ruling caps a decade-long dispute that began after HP wrote down Autonomy’s value by $8.8 billion in 2012 and launched a $5 billion civil lawsuit in 2015. Lynch—once hailed as Britain’s answer to Bill Gates—maintained his innocence and was acquitted of related criminal charges in the United States before dying in a yacht accident off Sicily in 2024. A further hearing is set for November to consider any applications for permission to appeal and to determine how the damages will be apportioned between Lynch’s estate and Hussain, who reached a partial settlement with HP earlier this year.
The estate of Mike Lynch, the British tech exec who died when his yacht sank last summer, and his former business partner owe Hewlett-Packard about $945 million over the 2011 sale of his company, a London judge ruled on Tuesday. https://t.co/T8PQc37XSO
Mike Lynch's Estate and Business Partner Owe HP $944M, Court Rules https://t.co/QRQS0qYmot
Mike Lynch’s estate ordered to pay HP £700m in court ruling https://t.co/8hO3OpjiMn https://t.co/TeydFzIE42