Mike Lynch loses $5bn fraud case over sale of Autonomy to HP in 2011

  • 📰 SkyNews
  • ⏱ Reading Time:
  • 19 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 67%

United Kingdom Headlines News

United Kingdom Latest News,United Kingdom Headlines

UK entrepreneur Mike Lynch has lost a multi-billion pound fraud action brought over the sale of software company Autonomy to Hewlett Packard (HP) in 2011.

The High Court judge found that HP had"substantially" succeeded in its bitter civil case but indicated that the US firm would get considerably less than the $5bn it had sought in damages.

The ruling follows years of bitter wrangling over Autonomy's value, which HP cut by almost $9bn after buying the firm for $11bn. Mr Lynch is also due to learn later on Friday whether Home Secretary Priti Patel has approved an extradition request to the US where he faces criminal charges, including wire fraud and securities fraud, relating to the deal.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 35. in UK

United Kingdom Latest News, United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Home Secretary ponders extradition decision after tycoon loses High Court fightMike Lynch: Priti Patel is set to decide whether Mike Lynch should be extradited to the United States by the end of the week
Source: Evening Standard - 🏆 102. / 51 Read more »

Boris Johnson personally authorised evacuation of dogs from Afghanistan, email showsPrime minister had previously claimed it was ‘complete nonsense’ that he intervened in the case Didn’t he jump in a burning building to rescue a blonde. Jesus Christ! Have a little shame. Stop with this bs plugs in the news for Boris! But refused kids.
Source: The Independent - 🏆 80. / 59 Read more »

Tesla speeds ahead with record salesTesla hailed a “breakthrough year” of expansion as it posted record quarterly sales and vowed to ramp up production as fast as possible in the face of global sh
Source: The Times - 🏆 71. / 59 Read more »

UK Covid infections fall on day Plan B restrictions ease across countrySome of the most significant Plan B restrictions ended today in England, with similar measures coming into force in the other home nations
Source: The Mirror - 🏆 136. / 51 Read more »

England's Covid outbreak WAS still shrinking last weekThere were another 102,292 positive tests across the country in the past 24 hours, Government dashboard data shows, marking a 5 per cent decrease on last Wednesday. And now we wait until the next variant comes along and none of your Mail bullshit about learning to live, or, its all over - applies - stop lying and start reporting Do you think ONLY 255 deaths a day and 100k cases a day is a win ?
Source: DailyMailUK - 🏆 7. / 90 Read more »

Prince Andrew Demands Trial By Jury In Civil Sex Case Brought By Virginia GiuffreAn application by the Duke of York to dismiss the case was previously denied by a judge. Will he never learn? 😳 As if that interview wasn’t bad enough🤦🏼‍♀️ But Giuffre has already been granted a jury trial, by constitutional right. Andrew's demand is pure theatre.
Source: HuffPostUK - 🏆 108. / 51 Read more »