British tech tycoon Mike Lynch has been acquitted of claims he defrauded Hewlett-Packard in a $11billion sale of his software company Autonomy.
British tech tycoon Mike Lynch has been acquitted of claims he defrauded Hewlett-Packard - also known as HP - in the sale of his software company Autonomy.
The Autonomy sale was one of the biggest British tech deals at the time but quickly went sour, with HP writing down Autonomy's value by £5.5billion within a year. Former Autonomy finance executive Stephen Chamberlain, who faced the same charges at trial alongside Lynch, was also acquitted on all counts, the Lynch representative said.
Lynch also took the stand in his own defence at the trial, denying wrongdoing and telling jurors that HP botched the two companies' integration. Hussain was separately convicted in 2018 at a trial in the same court on charges related to the deal with HP. He was released from U.S. prison in January after serving a five-year sentence.
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