The Traderszone Network

Published in TZ Latest News 1 October, 2015 by The TZ Newswire Staff

Autonomy’s Mike Lynch counter sues HP over $11 billion deal

British tech entrepreneur Mike Lynch on Thursday said he would file a claim against Hewlett-Packard (HPQ.N) for $150 million (99 million pounds) in damages over allegations the U.S company made about his role in the acquisition of his software company Autonomy in 2011. Lynch’s action marks the latest twist in a long-running battle between the HP and Lynch that has led to multiple lawsuits over who is to blame for a disastrous deal that cost HP shareholders billions of dollars of value. HP’s $11 billion purchase of Autonomy was supposed to form the central part of the U.S.

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