back to article UK tech titan Mike Lynch's US fraud trial begins today

British tech entrepreneur Mike Lynch's criminal trial kick off today in San Francisco in a case alleging accounting fraud charges that carry a maximum 20-year sentence. A figurehead for the UK's burgeoning tech scene of the 1990s, Lynch will make his case to a jury for the first time after HP's decision to buy his analytics …

  1. Pascal Monett Silver badge
    Flame

    Boooooring

    We already know that HP didn't do it's due diligence, didn't listen to insiders who were ringing the alarm, and went on with the acquisition because the idiot in charge thought it made himself look good.

    The whole case should be thrown out on those grounds alone.

  2. Flak
    Holmes

    More than one guilty party

    Not pre-empting the outcome here, but IMHO:

    - Lynch and Hussain did some creative accounting

    - HP too keen and inadequate DD

    - KPMG and Deloitte - auditors sleeping on the job

    Lady Justice is catching up with Mr Lynch now...

    1. Anonymous Coward
      Anonymous Coward

      Re: More than one guilty party

      One edit - “ KPMG and Deloitte - auditors sleeping on the job” should end “and no partners will face any meaningful sanction for their decision to fail”

    2. Pete Sdev Bronze badge

      Re: More than one guilty party

      My money is also on both sides being true:

      - inflation of worth by Autonomy

      - HP fraking the company up after it bought it

      A pox on both their houses.

  3. Anonymous Coward
    Anonymous Coward

    Unasked questions no one wants to ask or find the answer to ...

    Again ...

    But this time just cut/paste.

    Because I've said it so many (many) times in so many (many) different ways:

    -------------

    "But there are things no one asked or is asking about:

    Are all those involved on the HP side of this absurd fiasco really stupid DHs?

    The list is quite long and I won't type it again but they are all bigshot CxOs, lawyers, bankers and accountants.

    The accountants got off with a slap on their ink stained shirt cuffs and the rest are all still working as if nothing had happened.

    And Mike Lynch ...

    What is the guy, the Pied Piper of Idiotic Acquisitions? A master hipnotist? 8^D

    I read somewhere (cannot recall where/when) that a small group of HP shareholders filed a suit and were happy to shut their trap for what ended up being small change.

    Small change because they were probably few and small shareholders which were offered 2X their holdings to desist and go home.

    But the value of their holdings can only account for a very small drop of crap in the shitload of cash that was sent down the toilet via the absurd 80% writedown.

    For a long time I thought that HP had been in the hands of idiots but as time went by and the more I thought of it, the more it started to make less and less sense.

    How can it be that in a country (like the US) where you can practically sue a dog for barking at you, this did not bring about the fall of HP and multi-million class action lawsuits everywhere?

    It is often said that to find the cuprits you have to follow the money or the broad ...

    Right.

    Let's follow the money:

    Who did all the cash blown away actually belong to?

    ie: who were the parties that apparently lost the most money in this charade?

    And while we're here ...

    Just where is all the moohlah?

    -------------

    Get the right answers to all that and the whole thing just blows away, with Mike back in Blighty faster than you can say aich-pee.

    .

  4. Stevie

    Bah!

    Cripes, is that train-wreck still happening?

    Talk about grinding slow.

  5. Anonymous Coward
    Anonymous Coward

    Meanwhile on the 16th hole at an exclusive golf club…

    KPMG and Deloitte executives were seen discussing whether to have the lobster or the steak in the clubhouse later.

    1. John Brown (no body) Silver badge
      Coat

      Re: Meanwhile on the 16th hole at an exclusive golf club…

      The 16th hole? FOOOOOUUUUUURRRRRR!!!!!!!!!

  6. MrGreen

    Arrogance

    Certain companies have always been arrogant.

    There’s a long history of the purchasers throwing their weight around, but the reality is that they didn’t do their homework and are equally responsible.

    You can’t buy an overpriced second hand car, then complain that it’s overpriced, but you didn’t check the service history.

  7. Will Godfrey Silver badge
    Unhappy

    The case is being heard in America

    So automatically HP will win. The rest is just a circus act.

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