LONDON, Jan 29 — US tech giant Hewlett Packard yesterday won its multibillion-dollar fraud case over its 2011 purchase of British software company Autonomy.
It sued Mike Lynch, Autonomy’s British founder, and former chief financial officer Sushovan Hussain, for around five billion dollars. His full judgment, in what is believed to be Britain’s biggest-ever civil fraud trial, is due to be published later.HP claimed the two men “artificially inflated Autonomy’s reported revenues, revenue growth and gross margins... over a sustained period of time.”
Interior minister Priti Patel yesterday signed an order for the extradition of Lynch to the US, where he faces separate criminal proceedings over the sale, the Home Office said in a statement.Lynch’s lawyer Chris Morvillo said his client “firmly denies the charges brought against him in the US and will continue to fight to establish his innocence”.
By-line: Due diligence team found napping.
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