It is impossible to overstate the significance of British tech entrepreneur Mike Lynch's acquittal by a San Francisco jury. Ruthless and inventive, Lynch has become the anti-hero tech needs, challenging conventions and pushing boundaries in the industry. Lynch, who faced 15 counts of fraud over the $11.1 billion purchase of Autonomy by HP, says he's 'elated' and 'grateful to the jury' for the verdict that cleared his name.
Mike Lynch, founder and CEO of Autonomy, has been acquitted of criminal fraud and conspiracy charges arising from the 2011 sale of the company to Hewlett-Packard. The case had been closely watched as a test of the US Department of Justice's ability to prosecute white-collar crime in the technology sector. Lynch's legal team successfully argued that the charges were baseless and that he had acted in good faith throughout the deal.
Autonomy founder Mike Lynch was acquitted of fraud Thursday by a jury in San Francisco, a major win for the software entrepreneur who has faced years of legal battles over the controversial sale of his company to HP. The verdict came after a lengthy trial in which prosecutors struggled to connect Lynch to the alleged fraud, while he made his case to the jury that he had acted honestly and ethically in all his dealings.