British entrepreneur Mike Lynch artificially inflated revenue at his Autonomy so...
LONDON - British entrepreneur Mike Lynch artificially inflated revenue at his Autonomy software company before selling it to Hewlett Packard for $11 billion, the U.S. firm’s lawyer told a London court on Monday.
Lynch denies any wrongdoing and says HP’s mismanagement was responsible for the failure of the acquisition. Lawyer Laurence Rabinowicz QC, representing HP, told London’s High Court that Lynch and Hussain had knowingly been involved in “widespread and systematic false accounting” to create a materially false picture of Autonomy’s finances.
Lynch observed proceedings from a back corner of the courtroom, occasionally scribbling notes or sending messages on his phone.
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