Skip to Content

Hewlett Packard Enterprise wins $5B fraud suit vs UK tycoon

KTVZ

LONDON (AP) — Tech giant Hewlett Packard Enterprise has won a multibillion-dollar lawsuit against a British businessmen it accused of fraud after purchasing his software company Autonomy a decade ago. The decision by the U.K.’s High Court also removes a hurdle for the potential extradition to the U.S. of Autonomy’s founder, British entrepreneur Michael Lynch. Hewlett Packard bought Autonomy for $11 billion in 2011 but was forced to write off most of its value the following year, in a corporate debacle that sparked a boardroom shakeup at the printer and computer maker. A High Court judge delivered a summary of his conclusions in court, saying HP had “substantially won” its claim.

Article Topic Follows: AP National Business

Jump to comments ↓

Associated Press

BE PART OF THE CONVERSATION

KTVZ NewsChannel 21 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content