Hewlett Packard Enterprise will continue with its legal efforts to recover up to $4 billion damages from the estate of late British tech entrepreneur Mike Lynch, who died last month after his yacht sank off the Italian coast.
The damages that HPE wants to recover arise from a civil case in which the company had lodged fraud claims against Lynch related to Autonomy, a company he co-founded. Lynch denied the allegations.
In 2022, the British court issued a ruling in the case that largely sided with the company.
Mike Lynch, former chief executive officer of Autonomy Corp., arrives at federal court in San Francisco, California, on March 18, 2024. Lynch was charged with 14 counts of wire fraud, one count of securities fraud and one count of conspiracy to commi (Loren Elliott/Bloomberg via Getty Images / Getty Images)
"Dr. Lynch’s death is a tragedy, as are the death of others on the ship. However, it doesn’t change what happened. A UK judge ruled in 2022 that the Company is a victim of fraud committed by Dr. Lynch and his co-defendant Sushovan Hussain. HPE has a responsibility to recover damages for its shareholders," HPE said in a Thursday statement to FOX Business.
Six others died during the sinking of the British tech entrepreneur’s yacht last month.