Reported 6 months ago
Mike Lynch, the British tech pioneer and Autonomy founder, has been acquitted of fraud in a US trial following the disastrous sale of his company to Hewlett-Packard (HP) in 2011 for $11 billion. Lynch and former finance executive Stephen Chamberlain were acquitted of all charges, including conspiracy and wire fraud, marking a major legal victory for Lynch. The trial, which lasted three months, revolved around allegations of inflating Autonomy's revenue and saw Lynch denying wrongdoing. The controversial sale of Autonomy to HP led to a series of legal battles, including a civil lawsuit won by HP against Lynch and others in London in 2022, where damages are still pending.
Source: YAHOO