HP owed nearly $1B by estate of UK tycoon Mike Lynch, who died after his luxury yacht sank

Core Points - The High Court ruled that Hewlett Packard (HP) is owed nearly $1 billion by the estate of the late Mike Lynch and his former business partner due to HP's acquisition of Autonomy [1][2] - HP is entitled to $944 million for the difference between the price paid for Autonomy and what it would have paid had it known the company's true financial position, along with an additional $47.5 million for losses related to hardware sales and other transactions [2] Legal Background - HP sued Lynch and Hussain in 2015, alleging they orchestrated a fraud to inflate Autonomy's value, which HP acquired for $11.1 billion in 2011 [4][5] - The deal fell apart within a year, leading HP to write down Autonomy's value by $8.8 billion and file a $5 billion lawsuit against Lynch and Hussain [4][8] Court Rulings - The High Court previously ruled in HP's favor in 2022, indicating that HP would receive "considerably less" than the initially claimed $5 billion [6] - Judge Robert Hildyard determined that HP would have paid £23 per share instead of the £25.50 actually paid for Autonomy, stating that HP's claim was "substantially exaggerated" [8] Future Proceedings - A further hearing is scheduled for November to address any applications for permission to appeal and the division of damages between Lynch's estate and Hussain, who has already settled with HP [3]