HP Seeks $1.7 Billion from Mike Lynch's Estate Over Autonomy Acquisition Allegations
Hewlett Packard Enterprise (HPE), formerly HP, is pursuing $1.7 billion from the estate of Mike Lynch concerning the purchase of Autonomy and alleged financial misrepresentations by Lynch and Autonomy's former CFO Sushovan Hussain.
HP has claimed that Lynch inflated Autonomy's revenues, leading to an $8.8 billion write-down. In 2022, a High Court judge ruled that HP was substantially successful in its claim but indicated it would recover far less than the $5 billion originally sought. Earlier rulings found that HP suffered losses approximating £700 million from the Autonomy acquisition.
Tragically, Lynch and his teenage daughter Hannah died after their yacht, Bayesian, sank off Sicily during a storm in August of the previous year, an incident that also resulted in the deaths of seven passengers and crew.
A London High Court hearing has commenced to determine whether Lynch's estate can appeal the 2022 ruling as well as a related 2025 ruling. In its submissions, HP argued the estate should pay $1.7 billion, which includes about $761 million in interest, and alleged Lynch perpetrated fraud. HP is also seeking approximately £150 million in legal costs plus nearly £113 million of additional costs from the estate.
Lynch's estate lawyer contended that the $761 million interest demand is excessive and asserted that the estate should be permitted to appeal the rulings on the basis that the judge made errors in law. A spokesperson for the Lynch family stated the hearing concerns technical legal matters and does not alter the substantive facts, describing HP's claim as a wild overstatement.
Separately, Lynch was extradited to the United States in 2023 to face criminal charges and was cleared of fraud charges in 2024. He was reportedly celebrating his acquittal aboard his yacht before the fatal sinking occurred.
