Hewlett Packard Enterprise (HPE) is pressing forward with its legal battle against British tech mogul Mike Lynch, despite his recent death in a tragic yacht accident. The company is continuing to pursue damages of up to $3 billion from Lynch’s estate, following the collapse of his luxury yacht off the coast of Sicily last month, told The Mirror.
Lynch, who founded the business software company Autonomy, sold the company to Hewlett Packard in 2011 for $11 billion. However, in 2022, Britain’s High Court ruled that HPE had “substantially succeeded in its civil fraud claims” against Lynch and Autonomy’s former chief financial officer, Sushovan Hussain. These claims stem from alleged misrepresentations made during the sale of Autonomy to HPE. According to a statement obtained by PEOPLE, HPE stated that the company would “follow the proceedings through to their conclusion.”
A hearing to determine the damages was held in February 2024, and HPE anticipates the judge’s decision on the exact amount will be issued soon. This hearing occurred months before Lynch was acquitted in a separate U.S. trial related to the Autonomy sale. Nevertheless, HPE remains committed to pursuing the matter.
Lynch’s widow, Angela Bacares, who survived the yacht sinking that claimed the life of their 18-year-old daughter Hannah, could be held liable for damages, according to the Associated Press. A spokesperson for Lynch’s family declined to comment on the ongoing legal issues.
The fraud case dates back to 2015, when HPE initially sued Lynch and Hussain, seeking $6.5 billion in damages. Both men denied any wrongdoing, and while Judge Robert Hildyard acknowledged that HPE would be awarded damages, he predicted the amount would be “substantially” less than the $6.5 billion originally sought.
The recent tragedy, which claimed seven lives, occurred as Lynch and his closest friends and colleagues were celebrating his acquittal. Among the victims were Lynch’s daughter, prominent New York lawyer Christopher Morvillo and his wife, Morgan Stanley International chairman Jonathan Bloomer and his wife, as well as the yacht’s chef, Recaldo Thomas.
Italian authorities have since launched a manslaughter investigation into the sinking, with Ambrogio Cartosio, the chief prosecutor of Termini Imerese, leading the inquiry.
Despite Lynch’s death, HPE remains resolute in pursuing its claims. The company reiterated its stance, saying, “It is HPE’s intention to follow the proceedings through to their conclusion.”