Re: Mike Lynch not guilty of defrauding HP

On 6/12/2024 1:36 PM, Arne Vajhøj wrote:

On 6/12/2024 1:24 PM, Robert A. Brooks wrote:

On 6/12/2024 8:34 AM, Simon Clubley wrote:

[This happened several days ago, so I am surprised to see nobody has
mentioned it yet.]
>
The criminal trial of Mike Lynch of Autonomy, which saw him extradited
from the UK against his will, has ended in disaster for HP, as he has
been found not guilty of all charges.
>
https://www.theregister.com/2024/06/06/mike_lynch_cleared/
>
I wonder if this is going to have any implications for today's HP.

>
If anything, I'd expect it would affect HPE, not HP, Inc.
>
However, given that HP(E) took a massive writeoff for the Autonomy fiasco
awhile ago, I suspect it'll have a tiny impact, if at all.

 I don't think there will be any impact.
 According to the article there has been 3 separate trials.
 Civil fraud case in the UK. HPE won and they are currently
fighting over the compensation amount. HPE wants 4 B$.
 Criminal case against Autonomy CFO in the US. He was
convicted and served 5 years.
 Criminal case against Autonomy CEO in the US. He has now
been acquitted. His defense seems to have focused on that
he was involved in product development and product sales
but not in financial reports.
 HPE is probably only interested in the civil case and
the compensation amount.

And now Mike Lynch is dead and HPE need to decide
whether to go after the estate (and grieving widow)
for the 4 B$.
https://fortune.com/europe/2024/08/27/hp-dilemma-mike-lynch-family-4-billion-claim/
Arne