Monday, 17 December, 2018

Autonomy co-founder to face United States criminal charges

Lynch used false and misleading statements from 2009 2010 and early 2011 “to make Autonomy more attractive Lynch used false and misleading statements from 2009 2010 and early 2011 “to make Autonomy more attractive
Rhonda Young | 03 December, 2018, 03:00

HP claims that Lynch, along with Autonomy's former finance chief, Sushovan Hussain, and vice president of finance Stephen Chamberlain, overstated revenues in order to inflate the company's valuation.

But Lynch's lawyers said the indictment was a "travesty of justice" and that he would contest the charges.

"These stale allegations are meritless and we reject them emphatically", Lynch's lawyers said in a statement.

"This case is unsupportable".

"Mike Lynch is a world-leading entrepreneur who started from nothing and spent his life building a multi-billion-dollar technology business that solved critical problems for companies and governments all around the world", Chris Morvillo of Clifford Chance and Reid Weingarten of Steptoe & Johnson said in a press release.

Fuel tax protesters block Brussels street
No impunity for the inadmissible violence in Brussels. "The thugs and looters will have to be punished", he said. At the end of the day, the crowd of about 500 dispersed, and police said about 60 people had been arrested.

"It has no place in a U.S. court. He has done nothing wrong and will vigorously defend the charges against him", they added, saying the claims amounted to a business dispute over the application of United Kingdom accounting standards.

Irish-born Mike Lynch is accused of making false statements that inflated the value of the software group.

The statement added Dr Lynch "has done nothing wrong and will vigorously defend the charges against him".

The charges, filed in California on Thursday by U.S. prosecutors, add to the spaghetti-tangle of legal challenges that arose out of HP's ill-fated $11bn acquisition of Autonomy in 2011.

Meanwhile the UK's own Serious Fraud Office dropped an investigation into the Autonomy sale in 2015 - finding "insufficient evidence for a realistic prospect of conviction".

Wilder Open To Possible Rematch vs. Fury
The fight would last the full twelve rounds, with the judges eventually scoring it a draw:: 115-111 Wilder, 114-110 Fury, 113-113. I went to Germany to fight Klitschko, I came to America to fight Deontay Wilder. "Let's give the fans what they want to see.

Allegedly, Mr Lynch made $815m from the fourteen charges. Lynch and Hussain also face a $5.1 billion civil case filed by Hewlett-Packard in London.

Lynch sold Autonomy, the big data company he founded back in 1996, to computer giant HP for around $11BN some seven years ago. But within a year, HP claimed Autonomy had misrepresented its financial health.

Three lawsuits stemming from the disastrous acquisition of Autonomy by HP have now been settled.

Lynch was also an early investor in UK-based cybersecurity unicorn Darktrace. In 2011, the company was bought by HP for $11 billion in a move that was supposed to form the central part of the USA group's move into software.

Paris RIOTS latest: Macron ‘considers declaring state of EMERGENCY’ in crisis meeting
People work and pay a lot of taxes and we are fed up, ' said Rabah Mendez, a protester who came to march peacefully in Paris . Macron, in Argentina for a G20 summit , said he would convene ministers to discuss the crisis upon his return on Sunday.

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