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Hewlett Packard to pursue suit against tech mogul Mike Lynch, who died when his yacht sank

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Hewlett Packard Enterprise will pursue a lawsuit against the estate of British tech entrepreneur Mike Lynch, who died in August after his yacht sank off the coast of Sicily.

Britain’s High Court in 2022 ruled mostly in favor of the U.S. technology company, which accused Lynch and his former finance director of fraud over its $11 billion takeover of his software company Autonomy. Hewlett Packard is seeking up to $4 billion in damages, and the judge is expected to issue a decision on the final sum soon.

Lynch died when his yacht, the Bayesian, sank in a storm off Sicily on Aug. 19. His widow, Angela Bacares, could now be liable for the damages. Months before the sinking, Lynch was acquitted in a separate U.S. criminal trial of fraud and conspiracy charges in the deal.

Hewlett Packard initially celebrated the costly acquisition of Lynch’s company in 2011 but quickly came to regret it. The company said in a statement Monday that it had “substantially succeeded” in its civil fraud claims against Lynch and Sushovan Hussain, the former finance director.

“It is HPE’s intention to follow the proceedings through to their conclusion.”

However, the judge in the U.K. civil case has already ruled that the amount payable in damages would be “substantially less” than the company is seeking.

A spokesperson for Lynch’s family declined to comment.

File: Tech Tycoon Mike Lynch Awaits Extradition Fate After Damning Court Ruling
Mike Lynch, former CEO of Autonomy Corp., and five other passengers died when his luxury yacht sank during a storm off the coast of Sicily on Aug. 19, 2024.

Simon Dawson/Bloomberg via Getty Images


Lynch and his 18-year-old daughter Hannah were among six passengers who died when his 184-foot luxury yacht sank quickly in a storm on Aug. 19. One crew member, the boat’s chef, also died, while 15 people survived the disaster. They had gathered on the yacht to celebrate Lynch’s acquittal.

The incident has raised questions, as another sailboat that had been anchored nearby off the coast of Palermo made it through the storm unscathed.  Officials initially said the yacht was struck by a tornado over the water, known as a waterspout. Prosecutors in Italy are investigating the captain on possible charges including manslaughter.

The captain, engineer and a sailor aboard the yacht, called “Bayesian,” were placed investigation for possible manslaughter in connection with the shipwreck. 

Federal authorities sought for years to extradite Lynch from the U.K. to face multiple counts of fraud and conspiracy in the U.S. related to HP’s acquisition of Autonomy. 



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Child psychiatrist unpacks Instagram’s new Teen Accounts

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Child psychiatrist unpacks Instagram’s new Teen Accounts – CBS News


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Instagram’s parent company, Meta, launched their new Teen Accounts that offers a more limited experience for the platform’s younger users to address concerns over social media’s impact on kids. Everyone under the age of 16 will automatically migrate to the new service. Dr. Joel Stoddard, associate psychiatry professor at the University of Colorado School of Medicine, joins CBS News to discuss.

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Harris sits for NABJ interview as Trump returns to campaigning

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Harris sits for NABJ interview as Trump returns to campaigning – CBS News


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Vice President Kamala Harris and former President Donald Trump were on the campaign trail Tuesday, hitting two battleground states. Harris was interviewed at a National Association of Black Journalists forum in Pennsylvania, and Trump traveled to Michigan for his first public event following Sunday’s apparent assassination attempt. CBS News’ Olivia Rinaldi and Ed O’Keefe have the latest.

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How to navigate polls as Election Day draws nearer

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How to navigate polls as Election Day draws nearer – CBS News


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With just 49 days until Election Day, what is the best way to look at polls and see how they capture likely voters? CBS News executive director of elections and surveys Anthony Salvanto explains.

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