UK Tech Mogul Lynch Beats HP Fraud Case in Stunning US Loss (2)

In a staggering loss for US prosecutors, a jury found UK tech tycoon Mike Lynch not guilty of criminal charges that he pulled off Silicon Valley’s biggest-ever fraud 13 years ago by duping Hewlett Packard Co. into buying his software startup for $11 billion.

Lynch’s victory in San Francisco federal court came after he lost a civil trial in London in 2022 over allegations that he and Autonomy Corp.’s former finance chief used accounting tricks to inflate the company’s revenue ahead of its 2011 sale. Hewlett Packard is seeking $4 billion in damages, though the UK judge has said ...