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From: Simon Clubley <clubley@remove_me.eisner.decus.org-Earth.UFP>
Newsgroups: comp.os.vms
Subject: Re: Mike Lynch not guilty of defrauding HP
Date: Thu, 13 Jun 2024 12:34:18 -0000 (UTC)
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On 2024-06-12, Arne Vajh�j <arne@vajhoej.dk> wrote:
> On 6/12/2024 1:24 PM, Robert A. Brooks wrote:
>> On 6/12/2024 8:34 AM, Simon Clubley wrote:
>>> [This happened several days ago, so I am surprised to see nobody has
>>> mentioned it yet.]
>>>
>>> The criminal trial of Mike Lynch of Autonomy, which saw him extradited
>>> from the UK against his will, has ended in disaster for HP, as he has
>>> been found not guilty of all charges.
>>>
>>> https://www.theregister.com/2024/06/06/mike_lynch_cleared/
>>>
>>> I wonder if this is going to have any implications for today's HP.
>> 
>> If anything, I'd expect it would affect HPE, not HP, Inc.
>> 
>> However, given that HP(E) took a massive writeoff for the Autonomy fiasco
>> awhile ago, I suspect it'll have a tiny impact, if at all.
>
> I don't think there will be any impact.
>
> According to the article there has been 3 separate trials.
>
> Civil fraud case in the UK. HPE won and they are currently
> fighting over the compensation amount. HPE wants 4 B$.
>

I wonder if there is now a case for an appeal or a major reduction in
the amount of penalty that needs to be paid.

> Criminal case against Autonomy CFO in the US. He was
> convicted and served 5 years.
>

Likewise.

> Criminal case against Autonomy CEO in the US. He has now
> been acquitted. His defense seems to have focused on that
> he was involved in product development and product sales
> but not in financial reports.
>

The fact these prior two cases exist make me even more surprised about
the not guilty verdict in this case. Regardless of how you look at it,
it was _very_ clear that HP did not do their homework when deciding whether
to buy Autonomy which made the guilty verdicts in the first two cases
even more surprising.

Simon.

-- 
Simon Clubley, clubley@remove_me.eisner.decus.org-Earth.UFP
Walking destinations on a map are further away than they appear.