Hewlett Packard Enterprise (HPE) has announced its intention to continue pursuing a £3 billion damages claim against the estate of Suffolk tech tycoon Mike Lynch, following his tragic death in August.
In 2022, HPE won a significant civil case in the UK High Court against Dr. Lynch, accusing him and his former finance director, Sushovan Hussain, of fraud in connection with HPE’s $11 billion (£8.37 billion) acquisition of Autonomy, Dr. Lynch’s software company, in 2011.
Earlier this year, Dr. Lynch was acquitted of serious fraud charges in a separate criminal trial in the United States related to the Autonomy case.
Despite Dr. Lynch’s passing, HPE is now seeking up to £3 billion in damages, with the final amount to be determined by the judge. A spokesperson for HPE stated, “In 2022, an English High Court judge ruled that HPE had substantially succeeded in its civil fraud claims against Dr. Lynch and Mr. Hussain. A damages hearing was held in February 2024, and we await the judge’s decision regarding the damages owed to HPE.”
However, a UK judge has indicated that the final sum may be “substantially less” than the amount initially sought by HPE.
The responsibility for any damages awarded could now fall to Dr. Lynch’s widow, Angela Bacares, as she may become liable following her husband’s death.
Dr. Lynch, a prominent figure in the tech industry, resided near Wickham Market. He and five others tragically lost their lives when their yacht capsized during a freak storm off the coast of Sicily in August. Among the victims were Dr. Lynch’s 18-year-old daughter, Hannah, Morgan Stanley International bank chairman Jonathan Bloomer and his wife Judy, and Clifford Chance lawyer Chris Morvillo and his wife Neda.
The ill-fated boat trip was intended as a celebration of Dr. Lynch’s recent acquittal in the U.S. fraud case.
