Category Archives: Hewlett Packard

Hewlett Packard to pursue Mike Lynch’s estate for up to $4bn

Posted on by

Tech company says it will follow legal proceedings ‘to their conclusion’ after tycoon’s death last month

Hewlett Packard Enterprise has confirmed it will push ahead with a high court lawsuit against the estate of the deceased tech tycoon Mike Lynch in which it is seeking damages of up to $4bn (£3bn).

The US company said in a statement it would follow the legal proceedings “through to their conclusion” despite Lynch’s death last month when his yacht sank off the coast of Italy.

Continue reading...

Mike Lynch confirmed dead after yacht sank off Sicily coast during storm

Posted on by

Tech tycoon, 59, was among six people missing since early hours of Monday morning when Bayesian yacht capsized

The British tech entrepreneur Mike Lynch has been confirmed dead by search and rescue authorities after his yacht sank off the coast of Sicily during a violent storm, according to officials.

Lynch, 59, the founder of Autonomy Corporation, was among six people missing after the British-flagged 56-metre sailing boat Bayesian capsized at about 5am local time on Monday off the coast of Palermo when the area was hit by a tornado.

Continue reading...

Tech titan Mike Lynch testifies at fraud trial that Autonomy was ‘not perfect’

Posted on by

UK founder, accused of inflating sales and misleading regulators, takes stand and says he wasn’t fully responsible for firm’s decisions

The British entrepreneur Mike Lynch took the stand on Thursday in a San Francisco federal courthouse as a key witness in his own criminal fraud trial, defending his role at Autonomy, the tech firm he co-founded and then sold.

The trial continued as planned Thursday despite the defense team moving for a mistrial over alleged improper questioning of a witness by the prosecution. Lynch’s defense team called the questioning, which indirectly referenced the tech titan’s extradition, “egregious” and ‘’highly improper” in a filing.

Continue reading...

Prosecutors say Mike Lynch firm ‘paid customers to buy software’ as part of revenue fraud

Posted on by

New Jersey executive testified that the UK company Autonomy made millions of dollars’ worth of deals offering to fund purchases

The British technology firm Autonomy struck millions of dollars’ worth of “handshake deals” through which it paid customers to buy its software, the jury in the fraud trial of its co-founder Mike Lynch has heard.

Lynch, who co-founded and led Autonomy, has pleaded not guilty to 16 counts of wire fraud, securities fraud and conspiracy. He stands accused of orchestrating a huge fraud before Hewlett-Packard’s blockbuster takeover of the company in 2011.

Continue reading...

Mike Lynch trial: defense points to difference in accounting standards

Posted on by

Lawyers for UK tech tycoon facing 25 years in jail suggest US workers did not understand UK accounting principles

Lawyers for Mike Lynch tried to highlight differences between UK and US accounting standards as they defended the British businessman against allegations he orchestrated a “massive” years-long fraud.

Lynch, who founded and led Autonomy, a UK software firm, is fighting to avoid prison after federal prosecutors in the US charged him with 16 counts of wire fraud, securities fraud and conspiracy. His criminal trial started in San Francisco on Monday.

Continue reading...

Criminal fraud trial of UK tech tycoon Mike Lynch to begin

Posted on by

Co-founder of Autonomy charged with 16 counts of wire fraud, securities fraud and conspiracy in 2011 sale of company to HP

A British technology tycoon once lauded as “Britain’s Bill Gates” was the “driving force” behind a “massive” years-long fraud, prosecutors alleged, as his criminal trial got under way in San Francisco on Monday.

Prosecutors said Mike Lynch, co-founder of the UK software company Autonomy, ruled the firm “with an iron fist” before its blockbuster takeover by Hewlett-Packard in 2011.

Continue reading...

Insight: Tech firms let Russia probe software widely used by US government

Posted on by
Major global technology providers SAP, Symantec and McAfee have allowed Russian authorities to hunt for vulnerabilities in software deeply embedded across the U.S. government, a Reuters investigation has found. A general view shows a building, which houses the office of HP Russia, in Moscow, Russia August 30, 2017.

Tech firms let Russia probe software widely used by US government

Posted on by
WASHINGTON/MOSCOW: Major global technology providers SAP, Symantec and McAfee have allowed Russian authorities to hunt for vulnerabilities in software deeply embedded across the U.S. government, a Reuters investigation has found. The practice potentially jeopardizes the security of computer networks in at least a dozen federal agencies, U.S. lawmakers and security experts said.

Trump pick for Medicare post faces questions on Indiana contracts

Posted on by
President Donald Trump 's pick to oversee Medicare and Medicaid advised Vice President Mike Pence on health care issues while he was Indiana's governor, a post she maintained amid a web of business arrangements - including one that ethics experts say conflicted with her public duties. A review by The Associated Press found Seema Verma and her small Indianapolis-based firm made millions through consulting agreements with at least nine states while also working under contract for Hewlett Packard.