Mike Lynch, the former CEO of Autonomy, was acquitted of all charges in a high-profile criminal fraud trial on June 6, 2024[1][4]. The trial, which lasted 11-12 weeks, took place in a federal court in San Francisco and was considered one of Silicon Valley's biggest-ever fraud cases[1][4].

Lynch had been accused of deceiving Hewlett Packard (HP) about Autonomy's business and financial health leading up to HP's $11.7 billion acquisition of the British software company in 2011[1]. Specifically, he faced charges of securities and wire fraud for allegedly inflating Autonomy's revenues[1].

Throughout the trial, Lynch maintained his innocence, arguing that HP's $8.8 billion write-down the year after the acquisition was due to the company's own mismanagement rather than fraud[1][2]. His defense team emphasized the complexity of running a business like Autonomy and argued that HP had rushed the due diligence process[2].

The jury's not-guilty verdict marked the end of a 13-year legal battle for Lynch[1]. Following his acquittal, Lynch expressed his elation and gratitude to the jury, stating his intention to return to the UK and resume his work in innovation[1][4].

Sources [1] Clifford Chance Client Dr. Mike Lynch Acquitted in Criminal Fraud Trial https://www.cliffordchance.com/news/news/2024/06/clifford-chance-client-dr-Mike-Lynch-acquitted-in-criminal-fraud-trial.html [2] Not guilty: how tech mogul Mike Lynch's fortunes soared, fell https://www.theguardian.com/business/article/2024/jun/06/mike-lynch-fraud-trial-acquittal-autonomy-explained [3] Who is Mike Lynch? The British tech giant missing from a sunken yacht https://apnews.com/article/mike-lynch-autonomy-hp-sunken-yacht-fc133ecd4288b2676b2c6f900ae8d45f [4] Steptoe Client Dr. Mike Lynch Acquitted in Criminal Fraud Trial https://www.steptoe.com/en/news-publications/steptoe-client-dr-mike-lynch-acquitted-in-criminal-fraud-trial.html [5] British tycoon Mike Lynch was celebrating acquittal in 'biggest-ever ... https://nypost.com/2024/08/20/world-news/british-tycoon-mike-lynch-was-celebrating-fraud-acquittal-when-yacht-went-down/