Ex-Autonomy finance chief Sushovan Hussain ‘did not have tech knowledge’ for alleged fraud, court hears March 28, 2019 Former Autonomy finance chief Sushovan Hussain was “a numbers guy” without the technological knowledge to carry out alleged fraud at the software firm, a court heard today. Hewlett-Packard is suing Hussain and Autonomy’s founder Mike Lynch for $5bn following its £8.4bn acquisition of the UK firm in 2011, alleging that the pair falsely inflated the [...]
Mike Lynch blames HP for ‘botched’ Autonomy deal in $5bn fraud trial March 27, 2019 Autonomy was treated like Hewlett-Packard’s (HP) “unwanted stepchild” following the US tech giant’s “botched” £8.4bn acquisition of the software firm, a court heard today. HP is suing Autonomy’s founder Mike Lynch and former chief financial officer (CFO) Sushovan Hussain for $5.1bn, alleging that they falsely inflated Autonomy’s revenue figures ahead of the 2011 acquisition. Read [...]
Autonomy founder Mike Lynch inflated sales before £8.4bn HP deal, court hears March 25, 2019 The biggest civil fraud trial in UK history kicked off on Monday with Hewlett-Packard (HP) accusing entrepreneur Mike Lynch of inflating his software company’s revenues ahead of its £8.4bn sale to the US tech giant in 2011. Lynch “committed a deliberate fraud” to bump up Autonomy’s revenue, the High Court was told. HP is suing [...]
US prosecutors hit Autonomy founder Lynch with new charges over sale to HP March 24, 2019 Autonomy founder Mike Lynch has strongly denied criminal charges which were levelled against him by US authorities last week. A spokesperson for the British entrepreneur hit back at three new claims over the $11bn (£8.4bn) sale of his software business to Hewlett-Packard (HP) in 2011. Read more: UK tech entrepreneur Mike Lynch charged in US [...]
Darktrace risks being dragged into US probe into billionaire Mike Lynch February 17, 2019 UK cybersecurity darling Darktrace is at risk of being pulled into the US fraud case against tech billionaire Mike Lynch and his former Autonomy colleague Sushovan Hussain. US court documents show that Federal Bureau of Investigation agents held a voluntary interview with Darktrace’s co-chief executive Nicole Eagan, as first reported by the Sunday Telegraph. Read [...]
Legal artificial intelligence startup backed by Mike Lynch valued at $100m after funding round February 7, 2019 Legal artificial intelligence business Luminance has hit a $100m (£77m) valuation with backing from investors that include tech billionaire Mike Lynch. Luminance said today it had raised $10m in a series B funding round that valued the business at $100m. Backers include Lynch’s Invoke Capital, Talis Capital and Magic Circle law firm Slaughter and May. Lynch [...]
Mike Lynch resigns from government advisory role following US criminal charges November 30, 2018 Tech billionaire Mike Lynch has stepped down from his role as an adviser to the UK government and as a fellow of the Royal Society after being hit with criminal charges by US authorities yesterday. Lynch was yesterday charged with fourteen counts of fraud and conspiracy which carry a maximum sentence of 20 years. The [...]
UK tech entrepreneur Mike Lynch charged in US over Autonomy deal November 30, 2018 Prominent UK tech entrepreneur Mike Lynch has been charged by US authorities with fraud over the sale of software company Autonomy to Hewlett Packard in 2011. The US Department of Justice filed charges against Lynch yesterday in a San Francisco court. The charges carry a maximum penalty of 20 years in prison and include 14 [...]
Darktrace’s bright future: The CEO behind the company tipped to be the UK’s next tech unicorn March 12, 2018 In the heart of London, in the middle of the Strand, the office of Darktrace sits almost like a fortress; a sea of calm in the chaos and uncertainty that reigns in every global city. From here, maths whizzes and former intelligence officers have helped build a product sought after by multi-billion pound companies keen [...]
Foreign secretary Boris Johnson says Saudi Arabia’s sweeping reform programme is “hugely beneficial” to the UK too March 10, 2018 Boris Johnson said Saudi Arabia’s Crown Prince’s “sweeping reform programme” was “hugely beneficial” to the UK too, following bilateral meetings this week. At the end of a three-day visit from Mohammed bin Salman, the foreign secretary said: The Crown Prince’s sweeping reform programme is bringing positive economic and social changes to the country. These reforms [...]