HP Backs Down in Mike Lynch Estate Battle | Business and Finance News

HP has backed down from a bitter legal battle over the estate of late tech titan Mike Lynch, agreeing to let Jeremy Sandelson—Lynch’s former law firm colleague—manage the $500 million fortune instead of its preferred firm, Interpath Advisory. The dispute stems from HP’s 2011 acquisition of Lynch’s software company, Autonomy, which HP claims was based on inflated valuations. A March court ruling ordered Lynch’s estate to pay HP $920 million—a sum that would nearly erase his legacy—despite a prior U.S. jury acquitting Lynch of fraud. The estate is now seeking to appeal, with Sandelson staying in charge if the appeal is allowed; Interpath will take over if denied. Meanwhile, a separate lawsuit involving the superyacht where Lynch and his daughter perished is hanging in the balance as the yacht’s builder faces its own financial collapse. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/cb60b9c7e4a8d1c0