Former Autonomy CEO Mike Lynch has today filed a lawsuit against HP in the UK High Court seeking damages in excess of $150 million. The damages were caused by false and negligent statements made about him and the Autonomy management team by HP on 20 November 2012 and in HP’s subsequent public smear campaign.
Autonomy’s former management, including Mr. Lynch, have consistently stated that all of HP’s claims were false and should be rejected.
Commenting on today’s lawsuit, Mike Lynch said:
“Over the past three years, HP has made many statements that were highly damaging to me and misleading to the stock market. Worse – HP knew, or should have known, these statements were false.
We are finally starting to see what really happened with Autonomy. HP’s own documents, which the court will see, make clear that HP was simply incompetent in its operation of Autonomy, and the acquisition was doomed from the very beginning.
Evidence shows that at the time of the acquisition, HP was in chaos. Before going ahead with the acquisition they discussed firing their CEO. They then tried to abort the deal after closing, ultimately did fire the CEO, and generally fought amongst themselves like cats in a sack, causing Autonomy to disintegrate.
HP wasn’t misled by us or anyone else – evidence will show they didn’t even read their own due diligence report.
Tragically, Autonomy is only one deal among the many that were mishandled by HP, which has written down $9 billion on three separate occasions since 2011. Every acquisition over a billion dollars that HP has made in the last five years has failed.
Meg Whitman can explain all this to a judge when we finish this in court once and for all.”
Please find below a link to the full 38-page Counterclaim.