Dr. Lynch and former finance executive Stephen Chamberlain, who had been charged with similar offenses, were both found not guilty after being extradited to the US for trial just over a year ago.
Regarding the £8.3 billion sale to HP, they were charged with conspiracy and attempted fraud; the transaction has subsequently been the focus of expensive legal proceedings.
HP has long accused Dr. Lynch of inflating the worth of Autonomy, the company he started and oversaw, in order to get it acquired by the US IT giant.
At the time, it was the largest tech buyout of a FTSE 100 company. However, within a year of Autonomy’s completion, HP wiped off £5.5 billion of its value, citing exaggerated revenue streams.
I am thrilled with the jury’s decision today and appreciate that they spent the previous ten weeks considering the evidence. “I am excited to go back to the UK and pursue my passions of innovating in my field and spending time with my family,” he stated.
He testified during the trial, claiming that the US company had hurried the transaction, misunderstood what it was purchasing, and had not done enough due diligence.
