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Britch tech magnate Mike Lynch acquitted of fraud in $11 billion deal with Hewlett Packard

By Michael Liedtke - Jun 06, 2024, 04:27 PM EDTLast Updated - Jun 06, 2024, 04:27 PM EDT

British tech magnate Mike Lynch has been cleared of charges alleging he orchestrated a fraud and conspiracy leading up to an $11 billion deal that turned into a costly albatross for Silicon Valley pioneer Hewlett Packard

SAN FRANCISCO (AP) — Mike Lynch, once hailed as Britain’s king of technology, has been cleared of charges alleging he orchestrated a fraud and conspiracy leading up to an $11 billion deal that turned into a costly albatross for Silicon Valley pioneer Hewlett Packard.

The not-guilty verdicts reached Thursday by a federal court jury in San Francisco followed an 11-week criminal trial that delved into the history of HP’s 2011 acquisition of Autonomy, a business software that Lynch founded and then oversaw as CEO in Britain. HP at first celebrated the purchase as a huge coup that would propel the Palo Alto, California, company down a promising new path, but then quickly came to regret under its then-CEO Meg Whitman.

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Britch tech magnate Mike Lynch acquitted of fraud in $11 billion deal with Hewlett Packard

British tech magnate Mike Lynch has been cleared of charges alleging he orchestrated a fraud and conspiracy leading up to an $11 billion deal that turned into a costly albatross for Silicon Valley pioneer Hewlett Packard

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Britch tech magnate Mike Lynch acquitted of fraud in $11 billion deal with Hewlett Packard

British tech magnate Mike Lynch has been cleared of charges alleging he orchestrated a fraud and conspiracy leading up to an $11 billion deal that turned into a costly albatross for Silicon Valley pioneer Hewlett Packard

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