HP is seeking up to $4 billion from Mike Lynch’s estate

[Pelican Press 0]

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HP is seeking up to $4 billion from Mike ******’s estate

British tech billionaire Mike ****** ***** in August after the yacht he was on capsized off the coast of Sicily. Yet, Hewlett-Packard is continuing its *** lawsuit, seeking up to $4 billion in damages — just against his estate instead. In a statement, HP said it intended “to follow the proceedings through to their conclusion.”

****** and HP have been at odds since the entrepreneur sold his company, Autonomy, to HP for $11 billion in 2011. One year later, a new management team at HP valued the company at only $8.8 billion and accused ****** of inflating sales, accounting improprieties and misleading HP overall. In June, a US jury found ****** not guilty on all 15 counts of ******.

However, in 2022, HP won its civil claim in the *** when a high court judge found ****** and his former finance director, Sushovan Hussain, had defrauded the company — a claim ****** denied until his ******. The amount paid out to HP should be decided soon, though the

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that the damages would likely be “substantially less than is claimed.”

******, his 18-year-old daughter and five others ***** when Bayesian, an 183-foot super-yacht, was caught in a violent storm early in the morning on August 19. Fifteen other passengers were rescued, including ******’s wife, Angela Bacares. The outing had been a celebration of ******’s recent acquittal, with a mix of loved ones and business associates joining him on board.

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#seeking #billion #Mike #Lynchs #estate

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