HP incurred losses of approximately 697 million pounds due to its acquisition of Autonomy, leading to a ruling against Mike Lynch's estate for damages. Lynch, a billionaire, died in a yacht accident along with his daughter. The estate may have to pay $47.5 million in damages, of which $35 million is linked to the ruling. The former CFO of Autonomy, Sushovan Hussain, is also involved in the financial settlement. A hearing regarding potential appeals and damages is set for November.
Hewlett-Packard Enterprises aims to recover losses of approximately 697 million pounds incurred during the acquisition of Autonomy, a software company founded by Mike Lynch.
Mr Justice Hildyard ruled that Mike Lynch's estate is liable for damages amounting to around 35 million dollars associated with Hewlett-Packard's acquisition of Autonomy.
The unfortunate sinking of Mike Lynch's superyacht Bayesian resulted in Lynch and his daughter Hannah's tragic deaths, leading to a major legal and financial fallout.
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