HP Autonomy Saga Drags on With London Trial Scheduled for 2018
- HP suit against Autonomy's Mike Lynch and Sushovan Hussain
- HP claims it overpaid when it bought Autonomy for $10 billion
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The long-running saga between Hewlett-Packard Co. and Autonomy over their $10 billion takeover is set to drag on at least two more years, after lawyers agreed to fight a $5.1 billion-dispute in a London court in 2018.
Lawyers for Hewlett-Packard and two former Autonomy executives -- co-founder Michael Lynch and chief financial officer Sushovan Hussain -- appeared in court Thursday to set out their case after both sides filed lawsuits last year. Hewlett-Packard is suing the pair for $5.1 billion alleging they misrepresented the financial health of Autonomy before the takeover. Lynch filed a $160 million countersuit in October claiming Hewlett-Packard has ruined his reputation.