(Reuters) -Hewlett Packard mentioned on Monday it will proceed authorized proceedings to hunt as much as $4 billion in damages from British billionaire Mike Lynch’s property within the UK.
The U.S. firm had been in search of compensation over its acquisition of British tech agency Autonomy amid claims of fraud masterminded by its co-founder Mike Lynch to inflate the corporate’s worth.
Lynch, who died in August when his yacht sank off the coast of Sicily, had denied any wrongdoings.
“It’s HPE’s intention to observe the proceedings by way of to their conclusion,” the corporate mentioned in an emailed assertion to Reuters.
HP (NYSE:) had purchased Autonomy for $11.1 billion in 2011 in one of many UK’s greatest tech offers. However in late 2012 the corporate mentioned it had found a large accounting scandal on the British tech agency.
In 2022, HP received a civil case in opposition to Lynch however a Excessive Courtroom choose mentioned that any damages can be lower than the $5 billion HP had claimed.
A spokesperson for Lynch’s household mentioned they didn’t have any remark to share at this stage.
The corporate had filed the lawsuit in opposition to each Lynch and Autonomy’s former chief monetary officer, Sushovan Hussain.
