Mike Lynch Acquitted of Criminal Charges in Autonomy Case

Sydney Times

— 1 min read
Mike Lynch Acquitted of Criminal Charges in Autonomy Case

Background

  • Mike Lynch, former Autonomy CEO, was accused of falsely inflating revenues at the U.K. startup ahead of its sale to Hewlett Packard in 2011.
  • After a 13-year legal battle, Lynch has been acquitted of 15 counts of fraud and conspiracy related to the acquisition.

Lynch's Statement

  • Lynch expressed elation at the verdict and thanked the jury and his legal team for their support.
  • He looks forward to returning to the U.K. to focus on his family and innovation.
  • Christopher Morvillo and Brian Heberlig, Lynch's legal counsel, praised the jury's verdict and emphasized Lynch's innocence.
  • They highlighted the government's overreach in the case and the truth prevailing after years of scrutiny.

Trial Details

  • Lynch successfully argued that he was not involved in accounting and contract matters, focusing instead on technical and marketing issues.
  • The jury exonerated Lynch and Stephen Chamberlain, Autonomy's former VP of finance, on all counts.

Autonomy's Sale to HP

  • Autonomy's sale to HP was significant for the U.K.'s tech sector, showcasing its innovation capabilities.
  • The acquisition aimed to leverage Autonomy's expertise in analyzing unstructured databases to boost HP's hardware business.

Impact on Lynch

  • Lynch, who made £500 million from the sale, was previously under house arrest and 24-hour surveillance in the U.S.
  • He maintained that HP mishandled Autonomy after the acquisition, leading to a massive write-down.

Lynch's Background

  • Co-founding Autonomy in 1996, Lynch received an OBE for his contributions to enterprise.
  • Lynch later ventured into venture capital, cybersecurity, and advisory roles in the tech industry.

In conclusion, Lynch's acquittal in the Autonomy case marks a significant victory after years of legal battles. The trial highlighted the challenges of high-profile fraud cases and the complexities of international acquisitions in the tech sector.

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