HP Doesn’t Care Mike Lynch Is Dead, Still Wants $4 Billion Of His Money

Fifteen people survived the shocking sinking of British tech mogul and formerly accused fraudster Mike Lynch’s yacht. Lynch, his daughter, the lawyer who won his acquittal on allegations of ripping off Hewlett-Packard in the $11 billion deal for his company Autonomy, and Morgan Stanley International chairman Jonathan Bloomer were not among them.

What has definitely survived Lynch’s untimely demise is HP’s antipathy for the man, and also its $4 billion lawsuit against him.

The US company said in a statement it would follow the legal proceedings “through to their conclusion” despite Lynch’s death last month when his yacht sank off the coast of Italy…. HPE won a civil claim against Lynch in the English high court in 2022....

A ruling on damages is expected soon, although the judge presiding over the case, Mr Justice Hildyard, wrote in 2022 that he expected final damages to be “substantially less than is claimed”….

“They are a publicly traded company and they have a fiduciary duty to their shareholders. Legally they are obliged to act in their shareholders’ best interests, but morally continuing the claim is questionable. And from a publicity perspective it could backfire on them. Effectively they would be suing his widow and that does not look good optically,” [Wedlake Bell partner Oliver Embley] said.

Lynch’s widow, Angela Bacares, was onboard the Bayesian when it sank but was among 15 people who were rescued.

On the other hand, we think we’d be mad enough to face the bad publicity if someone swindled us for $11 billion so….

Hewlett Packard to pursue Mike Lynch’s estate for up to $4bn [Guardian]

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