Autonomy founder Mike Lynch, who was once hailed as Britain’s answer to Steve Jobs, was acquitted of fraud on Thursday by a jury in San Francisco, a major win for the entrepreneur who has been dogged by legal problems since the disastrous sale of his company to Hewlett-Packard for $11 billion in 2011.
Representatives for Lynch and US prosecutors said Lynch was acquitted on all 15 charges — one count of conspiracy, and 14 counts of wire fraud, each connected to specific transactions or communications.
The Autonomy sale was one of the biggest British tech deals at the time but quickly went sour, with HP writing down Autonomy’s value by $8.8 billion within a year.
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Source: NYPOST