A High Court judge ruled that the estate of Dr. Mike Lynch, founder of Autonomy, will not owe billions in damages sought by HPE from an acquisition dispute. The judge found that HPE inflated its claims regarding overpayment for Autonomy during the 2011 acquisition. He calculated that the appropriate valuation, if accurately represented, would show a discrepancy of £697 million instead of the claimed billions. HPE is still entitled to £50.7 million in damages against Lynch for deceit, with total losses exceeding £700 million due to direct loss claims.
Justice Hildyard estimated that if Autonomy's accounts had been properly stated, the difference between that valuation and the actual price paid was £697 million.
HPE was entitled to damages from Dr Lynch amounting to £50.7 million for deceit and misrepresentation claims, adding to losses over £700 million.
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