Hewlett Packard Enterprise announced on Monday that it will not withdraw its claim for damages against the estate of British tech mogul Mike Lynch in the U.K. legal battle. The case stems from allegations of fraud related to the $11 billion takeover of Lynch's software company Autonomy.
In a 2022 ruling, the High Court in Britain largely sided with the U.S. technology company, which is seeking up to $4 billion in damages. The final decision on the amount is pending.
Lynch tragically lost his life in August when his superyacht, the Bayesian, sank during a storm off Sicily. His widow, Angela Bacares, may now be held liable for the damages sought by Hewlett Packard Enterprise.
Prior to the yacht incident, Lynch had been acquitted in a separate U.S. criminal trial concerning fraud and conspiracy charges related to the Autonomy deal.
Despite initially viewing the acquisition of Autonomy positively in 2011, Hewlett Packard Enterprise later expressed regret over the transaction. The company stated that it has achieved significant progress in its civil fraud case against Lynch and his former finance director, Sushovan Hussain.
The U.K. judge has indicated that the final damages awarded will be considerably lower than the amount sought by Hewlett Packard Enterprise.
Following Lynch's passing, a spokesperson for his family declined to provide any comments on the ongoing legal proceedings.
Lynch and his daughter were among the six individuals who tragically lost their lives when the luxury yacht sank. The group had been celebrating Lynch's acquittal at the time of the incident. While initial reports suggested a waterspout caused the yacht to sink, further investigation identified the weather event as a downburst. Italian prosecutors are looking into potential charges, including manslaughter, against the yacht's captain.
