Mike Lynch has been acquitted of all charges related to the $11.1bn sale of Autonomy to Hewlett-Packard.
- The trial commenced in March in San Francisco following Lynch’s extradition.
- Prosecutors accused Lynch of inflating sales figures and misleading HP and regulators.
- The jury found in favour of Lynch, rejecting the allegations.
- Lynch expressed his relief and gratitude towards the jury and his legal team.
The trial, which began in March in San Francisco, was preceded by a lengthy extradition battle from the United Kingdom to the United States. Mike Lynch first faced these fraud charges in 2018. Prosecutors accused him of artificially inflating sales figures, misleading regulators, and deceiving Hewlett-Packard (HP). HP, which acquired Autonomy for $11.1bn, soon after wrote down the entire value of the company, citing substantial accounting irregularities.
Lynch, expressing his satisfaction with the verdict, said, ‘I am elated with today’s verdict and grateful to the jury for their attention to the facts over the last 10 weeks. My deepest thanks go to my legal team for their tireless work on my behalf. I am looking forward to returning to the UK and getting back to what I love most: my family and innovating in my field.’ Throughout the trial, Lynch maintained his innocence, asserting that while Autonomy was imperfect, it was not fraudulent. He emphasised his limited involvement in the daily operations and accounting practices of the company, attributing any discrepancies to other executives and employees.
Prosecutors depicted Lynch as the orchestrator of a prolonged fraud, presenting over 30 witnesses to support their claims. They alleged that Autonomy misrepresented itself by bundling hardware and software sales to exaggerate revenues, and that Lynch masterminded these deceptive practices. However, the jury ultimately found in favour of Lynch, concluding the case in his favour.
Lynch’s attorneys, Christopher Morvillo and Brian Heberlig, celebrated the verdict as a ‘resounding rejection’ of the government’s case against their client. They stated, ‘The evidence presented at trial demonstrated conclusively that Mike Lynch is innocent. This verdict closes the book on a relentless 13-year effort to pin HP’s well-documented ineptitude on Dr Lynch. Thankfully, the truth has finally prevailed.’
Lynch, once hailed as a key figure in the British tech industry, was honoured with an Order of the British Empire in 2006 and elected as a fellow of both the Royal Academy of Engineering and the Royal Society in 2008 and 2014, respectively.
The verdict clears Mike Lynch of all allegations, signalling a significant conclusion to the long-standing legal battle.
