UK Tech Mogul Lynch Beats HP Fraud Case in Stunning US Loss (1)
In a staggering loss for US prosecutors, a jury found UK tech tycoon Mike Lynch-bsp-person> not guilty of criminal charges that he pulled off Silicon Valley’s biggest-ever fraud 13 years ago by duping Hewlett Packard Co. into buying his software startup for $11 billion.
Lynch’s victory in San Francisco federal court came after he lost a civil trial in London in 2022 over allegations that he and Autonomy Corp.-rte-company>’s former finance chief used accounting tricks to inflate the company’s revenue ahead of its 2011 sale. Hewlett Packard is seeking $4 billion in damages, though the UK judge has said …
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