Hewlett Packard Enterprise is continuing its pursuit for damages against the estate of British tech mogul Mike Lynch, despite his recent death in a yacht sinking incident. Lynch was accused of fraud by the US technology company in relation to its $11 billion takeover of his software company Autonomy. The company is seeking up to $4 billion in damages from Lynch’s estate, and a decision on the final sum is expected soon.
Following the ruling in favor of Hewlett Packard in a UK High Court case, Lynch’s widow, Angela Bacares, could potentially be held liable for the damages. Despite Lynch being acquitted in a separate US criminal trial of fraud and conspiracy charges related to the Autonomy deal, the civil case in the UK found in favor of the technology company. The acquisition of Autonomy by Hewlett Packard in 2011 was initially celebrated but later regretted by the company.
The company announced its intention to pursue the legal proceedings to their conclusion, even though the judge in the UK civil case indicated the final damages amount would likely be less than what Hewlett Packard is seeking. Lynch’s family declined to comment on the situation. Lynch and his daughter were among six passengers who died when his luxury yacht sank. Italian prosecutors are investigating the captain on possible charges, including manslaughter, in connection to the yacht sinking incident.
The tragic incident involving Lynch’s yacht occurred off the coast of Sicily in August, resulting in the deaths of six passengers, including Lynch and his daughter. The 56-meter luxury yacht sank during a storm while celebrating Lynch’s acquittal in the US criminal trial. Although initially believed to be caused by a tornado over the water, the weather phenomenon was later identified as a downburst. Survivors of the disaster included 15 individuals, while one crew member also lost their life in the incident.
Despite the personal tragedy suffered by Lynch’s family in the yacht sinking, the legal battle over damages sought by Hewlett Packard Enterprise against Lynch’s estate continues. The civil fraud claims against Lynch and his former finance director have been largely successful, as determined by the UK High Court. The pursuit of damages by the technology company highlights the complex and contentious nature of the legal dispute following the failed acquisition of Autonomy. The outcome of the case will likely have significant implications for both parties involved in the ongoing litigation.
