One passenger, believed to be the chef on board that yacht was missing after the accident and confirmed dead while Lynch’s wife Angela Bacares is one of five survivors.
The Mike Lynch Case and Its Legal Legacy
That acquittal by a jury last week marked the close of one of the biggest fraud indictments ever brought by U.S. prosecutors — that Lynch masterminded an accounting trick to inflate Autonomy’s price before its $11.7 billion sale in 2011 to Hewlett Packard Co HPE.NBTTagCompoundHNMG.DE, whose own botched deal would ultimately expose it all as a mirage capturing them both on charges they misled shareholders about former earnings.NaNdsir.amazonaws.com In the end, that transaction is what sparked years of litigation in both a U.S. court and another based in London because HP argued Lynch and crew inflated their product revenue numbers to get an “excessive” price out of it.
Lynch and Hussain were found to have fraudulently inflated the revenue figures in order to artificially inflate sale price, a British judge determined 2022 parallel civil proceedings. In the ongoing case, Hewlett Packard is now seeking more than $4 billion in damages.
