Hewlett Packard Enterprise (HPE) faces a long-awaited ruling from London's High Court on Tuesday on how much it's owed in damages over its 2011 acquisition of software firm Autonomy, Reuters reported Monday.
HP sued Autonomy co-founder Mike Lynch and former CFO Sushovan Hussain in 2015, accusing them of inflating the value of the company before the $11.1 billion deal, the report said. A High Court judge ruled in HP's favor in 2022, followed by delays in assessing damages, Reuters said.
The case involves the estate of Lynch, who died in August when his yacht sank off the coast of Sicily.
Hewlett Packard did not immediately respond to a request for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Price: 20.89, Change: -0.22, Percent Change: -1.07
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.