HP Seeks $4 Billion in Losses From Lynch Over Autonomy Fraud

HP is seeking as much as $4 billion from Autonomy's former bosses following a London judge's finding that they fraudulently boosted the value of the company before its sale. From a report: Founder Mike Lynch was found to have inflated Autonomy's revenue alongside his chief financial officer Sushovan Hussain and induced HP to buy the firm for $11 billion, according to a London civil judgment in 2022. The British tech tycoon is currently waiting to face a criminal trial in the US over the sale after being extradited last year. He was previously investigated by the UK's Serious Fraud Office but the agency dropped its case. Hussain was convicted in the US for his role in the saga. Lawyers for HP calculated the total losses that Lynch and Hussain must pay back as over $4 billion, according to court documents prepared for a hearing Monday. This was revised from a previous calculation of $5 billion at trial due to further evidence.

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