Hewlett Packard (HP) has won a ruling to recover $944 million from the estate of the late Mike Lynch and Sushovan Hussain related to the acquisition of Autonomy. HP claimed Lynch and Hussain committed fraud to inflate Autonomy's value before the $11.1 billion purchase in 2011, which led to significant financial losses. After writing down Autonomy's value by $8.8 billion in under a year, HP initiated a $5 billion lawsuit. Lynch, who denied wrongdoing, argued that HP failed to integrate Autonomy correctly.
Hewlett Packard (HP) is set to recoup more than 700 million ($944 million) from the estate of the late Mike Lynch and his former business partner, Sushovan Hussain.
HP had accused the pair of orchestrating an elaborate fraud to inflate Autonomy's value before its $11.1 billion purchase in 2011, a deal that subsequently unravelled.
Dr Lynch, once lauded as Britain's answer to Bill Gates, consistently maintained his innocence, instead blaming HP for its failure to integrate Autonomy into its operations.
Within a year of the acquisition, HP wrote down Autonomy's value by $8.8 billion and launched a $5 billion lawsuit against Dr Lynch and Mr Hussain in London.
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