Jury clears Autonomy CEO of fraud charges
A jury in San Francisco on Thursday unanimously cleared Autonomy CEO Mike Lynch of 15 counts of wire fraud and conspiracy to commit wire fraud stemming from his company’s purchase by Hewlett-Packard in 2011 for $11.1 billion dollars. HP executives had maintained that Lynch fooled them when he sold Autonomy — HP subsequently had to write down the value of the acquisition by over $5 billion — whereas Lynch maintained that he had been truthful. Jurors on Thursday sided with him. The charges against Lynch were brought by the U.S. Attorney’s Office for the Northern District of California. He was ex...