Hewlett-Packard wins fraud case against UK tech tycoon Mike Lynch
Hewlett-Packard wins fraud case against UK tech tycoon Mike Lynch

LONDON: A British judge said on Friday that Mike Lynch masterminded an elaborate fraud to inflate the value of his company Autonomy before it was bought by Hewlett-Packard for $11 billion in 2011.

Finding in HP’s favour following a near decade-long battle, Justice Robert Hildyard said the Silicon Valley company had won the majority of its case although the damages, while substantial, would be significantly smaller than the $5 billion demanded by the U.S. firm.

The court’s decision comes before a Friday deadline for Britain to decide whether or not to extradite Lynch to the United States to face criminal charges over the deal that carry a maximum term of 20 years.

“The claimants have substantially succeeded in their claims in these proceedings,” Hildyard told the High Court, in a summary of his much longer judgement, following a nine-month trial and a two-year wait for his decision.

“Quantum will be determined in a later judgment, but I would anticipate that, although substantial, it will be considerably less than claimed.”

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