A UK judge ruled Hewlett Packard Enterprise (HPE) lost around £730 million ($985 million) in its acquisition of Autonomy Corp., finding that founder Mike Lynch fraudulently inflated the firm’s value. Lynch’s estate, along with former CFO Sushovan Hussain, has been ordered to pay damages.
The ruling follows a lengthy legal battle and comes less than a year after Lynch drowned in a yacht accident near Sicily. Although acquitted of criminal charges in the US, the UK civil court held him liable for misleading investors. HPE originally sought $4 billion in damages.
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