Technology,
Litigation & Arbitration
Mar. 20, 2024
Trial of British tech mogul begins over 'inflated' Autonomy value
Michael Lynch, who co-founded Autonomy, is accused of inflating the company's worth before the sale and misleading the auditors. He has pleaded not guilty and faces up to 25 years in prison if convicted.
The criminal conspiracy and fraud trial against British tech mogul Michael Lynch got underway this week in federal court in San Francisco as prosecutors hope to convince the jury that the former Autonomy CEO inflated his company's worth ahead of its $11 billion sale to Hewlett Packard.
Lynch co-founded enterprise software company Autonomy in 1996 and soon became one of the most prominent tech entrepreneurs in the U.K. Hewlett Packard acquired Autonomy in 2011 and wrote off $8....
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