Hewlett Packard Seeks $4 Billion From Estate of Former Autonomy Chief

HP Alleges Fraud and Misrepresentation

Estate Expected to Contest Claim

Hewlett Packard (HP) is pursuing a $4 billion claim against the estate of Mike Lynch, the former chief executive of Autonomy, a software company that HP acquired in 2011. HP alleges that Lynch and Autonomy engaged in fraud and misrepresentation in the run-up to the acquisition, inflating the company's value and financial performance.

HP's claim is based on an investigation that it conducted after Autonomy's acquisition. The investigation concluded that Autonomy had engaged in a number of accounting irregularities, including overstating its revenue and profit margins, and concealing its true financial position.

Lynch has denied any wrongdoing, and his estate is expected to contest HP's claim. The case is likely to be complex and could take years to resolve.

The claim is a significant development in the long-running legal dispute between HP and Lynch. HP first sued Lynch in 2015, alleging that he had misled the company about Autonomy's finances. The case was settled in 2018, with Lynch agreeing to pay HP $5 million without admitting liability.

HP's latest claim is likely to put further pressure on Lynch's estate. The estate is already facing a number of other legal challenges, including a claim from the UK Serious Fraud Office.

The case is also likely to have a wider impact on the technology industry. It is one of a number of recent cases in which companies have been accused of fraudulently inflating their value in order to secure a higher acquisition price.