Mike Lynch's estate has been ordered to pay £920 million to Hewlett Packard Enterprise over the catastrophic 2011 Autonomy acquisition, with courts refusing permission to appeal. HPE is recovering far less than the $4.5 billion it originally sought, settling for roughly $1 billion in damages stemming from accounting fraud that led to an $8.8 billion write-down.
·Mike Lynch's estate denied permission to appeal the ruling in UK courts
·Estate ordered to pay £920 million to Hewlett Packard Enterprise
·HPE recovering approximately $1 billion of $4.5 billion claimed damages
·Autonomy accounting scandal involved inflated revenue figures before acquisition
·Case highlights one of tech's largest M&A disasters and goodwill impairment lessons
drawn from Reuters, cio.com, ClassAction.org, The Guardian · updated 101d ago