Tech giant HPE remains committed to its legal battle against the estate of the late tech tycoon Mike Lynch, who died in a yacht accident.
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| The tragic loss of Mike Lynch, Hewlett Packard Enterprise will continue its legal pursuit of $4 billion in damages. Symbolic image |
San Francisco, California, USA - September 4, 2024:
Hewlett Packard Enterprise (HPE) has confirmed that it will proceed with its $4 billion lawsuit against the estate of late tech tycoon Mike Lynch, despite his tragic death in a yacht sinking.
Lynch, along with seven others, including his daughter and top attorney, drowned when his superyacht, Bayesian, sank off the coast of Sicily two weeks ago. The lawsuit, which alleges that Lynch inflated the value of his software company, Autonomy, prior to its acquisition by HPE in 2011, has been ongoing for several years.
HPE said in a statement on Monday that it would continue to pursue the legal action, seeking damages of $4 billion. The company’s spokesperson noted that an English High Court judge had previously ruled in HPE’s favor in the case.
Lynch’s wife, Angela Bacares, who survived the yacht tragedy, is expected to inherit her husband’s legal battle, according to reports.
The lawsuit comes after Lynch and his former vice president of finance were acquitted of criminal charges related to Autonomy’s sale in June. The indictment accused them of falsifying financial documents and misleading auditors and regulators.