Mike Lynch, once long-cherished for UK’s answer to another Bill Gates, would be facing Hewlett-Packard in London’s High Court on Monday, the 25th of March, in a multi-billion-dollar lawsuit over the US tech giant’s purchase of autonomy software business that Lynch founded.
The origin of the case dated back to as early as 2013, and it had been a part of dispute on whom to blame over a disastrous deal, which costed Silicon Valley stalwart’s shareholder’s billions of dollars. Hewlett Packard had been accusing Lynch that they had allegedly inflated the value of their autonomy software business before selling, whose software had been used for software searches and organization of unstructured information such as telephone conversations.
As of this lawsuit, the Hewlett Packard had been seeking around $5 billion from Lynch and its former colleague Sushovan Hussain for liabilities resulted from the perilous purchase. Lynch had frequently denied any kind of allegation and said that the failure resulted from an $11 billion takeover deal should have been down to HP management.
Besides, in a separate legal battle, Mike Lynch, considered to be the founder of autonomy and whose doctoral research had been one of the most talking points at Cambridge, had been counter-suing the Hewlett Packard for over $160 million in losses and liabilities caused by HP’s action in the recent past over the takeover deal.