Hewlett Packard Enterprise to pursue $3.94B judgment against late Mike Lynch

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The body of the fifth missing person off the superyacht Bayesian is brought to the shore by fire brigade divers, in Porticello, near Palermo, Sicily Island, Italy, Hewlett Packard said it will pursue a court claim against Mike Lynch, who died on the vessel. Photo by Igor Petyx/EPA-EFE

 

Sept. 3 (UPI) — U.S.-based Hewlett Packard Enterprise said this week that it would continue to pursue a $3.94 billion judgment against the estate of British tech mogul Mike Lynch who died alongside his 18-year-old daughter and five others in a shipwreck on his yacht last month.

Hewlett Packard won the fraud judgment against Lynch in 2022 connected with the sale of Lynch’s company Autonomy in 2011. HPE said a judge’s decision regarding the damages was imminent after a February hearing before Lynch’s death on his superyacht during a freak storm near Sicily on Aug. 19.

“It is HPE’s intention to follow the proceedings through their conclusion,” HPE said, according to The Independent.

The British court found Lynch and his former finance head Sushovan Hussain inflated the revenues of Autonomy before the HPE purchase. Hewlett Packard paid $11 billion in the takeover.

Lynch, however, beat criminal fraud charges in the United States, fending off prosecution in federal court in June.

Lynch’s wife, Angela Bacares, survived the incident in which his yacht, the Bayesian, after it went down in a storm off the coast of Sicily.

Others who died in the accident included Morgan Stanley International chairman Jonathan Bloomer and his wife Judith Bloomer along with Lynch’s U.S.-based attorney Christopher Morvillo and wife Neda Morvillio, and chef Recaldo Thomas.

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