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UK court rules HPE lost £697.87M in 2011 Autonomy acquisition; Lynch's estate liable for £35M.
A High Court judge has ruled that Hewlett-Packard Enterprise (HPE) lost £697.87 million in its 2011 acquisition of British software company Autonomy, founded by Mike Lynch.
HPE accused Lynch of inflating Autonomy's revenues and committing fraud, leading to an $8.8 billion write-down.
The court found HPE’s losses were due to Autonomy not accurately portraying its financial situation, though HPE would have still bought the company at a lower price.
Lynch’s estate and former CFO Sushovan Hussain are liable for part of the damages, estimated at around £35 million.
Further details on the payment will be decided in a future hearing.
El tribunal del Reino Unido dictamina que HPE perdió 697.87 millones de libras esterlinas en la adquisición de Autonomy en 2011; el patrimonio de Lynch es responsable de 35 millones de libras esterlinas.