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Mike Lynch Loses $5 Billion Court Fight With HP Over Autonomy

  • Lynch faces prospect of extradition to U.S. on fraud charges
  • Tycoon says he plans to appeal civil judgment on dishonesty
Mike Lynch
Mike LynchPhotographer: Simon Dawson/Bloomberg
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After being criticized by a London judge for being dishonest, one of Britain’s most prominent tech tycoons now awaits a final decision by the U.K. government over his extradition to the U.S. to face criminal fraud charges.

Mike Lynch dressed-up his software company Autonomy Corp. for sale, and “induced” Hewlett Packard Enterprise Co. to acquire the firm for $11 billion, Judge Robert Hildyard said, reading a summary of his judgment on Friday. While HP was seeking $5 billion in damages from Lynch, the judge said the final amount is likely to be “substantially” less. The tech entrepreneur plans to appeal the decision.