HP to Pursue $4B Damages After Mike Lynch Yacht Death
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- Опубликовано: 15 сен 2024
- HPE says it intends to pursue the $4 billion damages claim in London against the estate of the recently deceased British tech tycoon Mike Lynch. Bloomberg's Jonathan Browning joins Ed Ludlow and Caroline Hyde to discuss on "Bloomberg Technology."
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I used to work for HP in the UK. In fact, I worked for Digital Equipment, then Compaq and then HP - a sequence of corporate buyouts. HP has a long history of buying companies which have potential but they fail to integrate due to management incompetence. You really have to wonder about their efforts at due diligence in this case. They have no one to blame but themselves.
Well, every case might be different and Lynch was found guilty already in the UK and his former CFO was sentenced guilty in the US
Exactly why due diligence and accountability is the reason the Bayesian yacht is not afloat 😅
@@dirkerbornheim2808 I was wondering what happened to the CFO - thanks for this.
This paragraph doesn't change the fact Mike Lynch lied for money💀🤡
@@Rajesh1622 Lynch died with his guests and his family on the Bayesian. Terrible tragedy and unforeseen events.
Seems HP might be involved in the convenient death of those people
Yes, HP use their weather machine to bring up the storm and sink the ship.
@@neilkurzman4907 Well, technically mega corporations are to blame for climate change, and the random tornado that sunk the yacht is un-precedented for that area, soooo it could be extrapolated that HP is partly and indirectly responsible for his death 😂
@@chezchundy8892
Sure, you could extrapolate that, but you couldn’t show any intention.
But I guess technically that would be poetic justice
@@neilkurzman4907true 😊
Its 4B and HP corporate pride and honore. Of course they will. Autonomy felt sketchy and people shaun them in Asia, I have heard tales of it, and other places.
HPE has every right at law to bring the damages claim to a close! Really the judge should have wrapped the whole case up there and then and disposed of the matter!
The pot calling the kettle
Why didn't HP pursue a civil case earlier its only been over 10 years? HP had its chance to do its due diligence - they should be reminded of the old economic principal of: "a fool and his money are soon parted."
Well, they are just continuing the case which is already ongoing
It took 10 years to deliver the GB citizens?
Seems Lynch learned the hard way the truth of this old economic principal.....as in deadly departed from his money and his life.
Dating just started they’ve been doing it for years. He’s been trying to drag it on so he can keep the $4 billion.
They did pursue it, and won, in the UK, where a judge found that Lynch committed fraud. And ❤ the way you defend fraud by blaming the intended victim
Filthy minds do filthy things.
Well, that guy is dead now
This is neither "a controversial" nor "a difficult case" - it's a debt owed by his estate
The original acquisition was poorly structured. Clearly if I were Mike Lynch I would have allowed HP to perform DD to the fullest extent such that HP would waive all claims in future. Why would anyone do a deal that could have claw back to the extent we are seeing now.
These days most startups leadership will stay intact following the purchase.. Disruptions were also an abs mistake.
He took the books. He was convicted of it in the UK. He got off on the charges in the US.
He actually defaulted them for $8 billion
@@neilkurzman4907 No, but his method of referral marketing was designed as an extreme model of SaaS that should have been be reflected in AR account.
The Auditors could be blamed but at the end HP didn't do great due diligence. They always blamed the investors despite the good intentions esp in UK
You're obviously not familiar with typical deal terms
Well I suppose you've lost the primary defendants and legal resource on the defence side, so HP can take advantage of that. Most companies listen to their own media relations team, who would state this is just making them look more incompetent hurting the brand and the stock price. They must be desperate to swallow this from the legal team they've assembled.
HPE won the case against Autonomy and now it wants justice? I can't see a difficulty with that?
You realize this has been going on for a decade. They didn’t just bring it overnight.
Lynch was found to have committed fraud against HP in Jan 2022, by a UK judge
Its fucking 4B and corporate honor
@@colbr6733 Lynch lost this case - the civil case - in the UK in Jan 2022. Only people who have fallen for Lynch's PR would think that HP is harmed by having the estate pay its debt to HP for the fraud he committed, per a UK court
Hm...Strange...
I didn’t know HP still existed. I say that as someone who has owned HP computers in the past.
Did you forget about the line of printers?
This is HP Enterprise, they are doing it security solutions, data solutions, software solutions, and many other services. It’s different than the computer company, they separated years ago.
So...was this a hit?
Yes, they use their weather machine
So... how would that make any sense whatsoever? HP is in exactly the same situation it was in before.
I would call it proof of diety
@@darkstar1449
It could just be proof of karma.
What comes around goes around?
Remember, one of the other guys from the case got hit by a car about the same time.
@@darkstar1449 Good one!
For forex, where would you set your stop loss and profit target? I seem to be making 2 pips a trade, does this seem right? Love your content, keep it up
Still love my HP laptop 💻
Attacking the estate of the widow and fatherless daughter is a bad look for HP. bad public relations
One might ask if by chance is there somebody invested in hp that had something to do with the fall of the British pound.
This is sick
why is it sick? HP was defrauded
You're sick, defending the fraudulent behavior of that guy
Wheird
Why?
@@ciararespect4296 tine will tell
Well when company executives are incompetent they go to court sniveling about their stupidity. Buyer beware. What on earth do these executives think they are paid for. Are they all in positions above their capacity are they all so pathetically incompetent.
WTF is wrong with you? Lynch was found to have committed fraud against HP by a UK judge. In Jan 2022
Probably all had fingers in the pie
Are they trying to push the poor widow and remaining daughter over the edge? They will.lose that in lost sales. Many will never by a HP product again. Let them lose 10 Bn!
Sending my prayers to the remaining family.
Poor widow or grieving mother
Here, here. A voice of wisdom, integrity, and dignity commented through moral posts. Thank you well said.
You have no idea what’s going on and have come up to a final conclusion using a guess. He defaulted them in the acquisition of his company a decade ago. The lawsuit is not old and you don’t actually care.
What world are you living in, Business is business, Lynch was all about the money, HP is all about the money.
@@swisscottage1070 Insurance companies are all about money
So basically they sue dead person's family?
No, they sued the person. But he died so now they’re suing his estate.
@@neilkurzman4907
The lawsuit filed for manslaughter ie deaths of guests onboard the Bayesian yacht will be 100 to 200 million dollars
@@neilkurzman4907Actually, they're not suing the estate. The estate owes them the judgment in the fraud case he lost
I find this so tacky & disrespectful…and I don’t mind. Rich people problems. Corporations being nasty as usual Lol.
Didnt HB have their legal team accountant team, investment team done homework on whether the company over inflated ,the worth of Automony was the American financial Authority not invovled? Was this a personal buyout? Ive no qualification on tech/ businesses buyout or take over, but Im sure Warren B, and his late business partner Munger would never conduct a buyout of any company without a reassurance from their legal investment team of its worth. Sorry HB incompetency at your front back side door, now suck it up and dont bring karma on the rest of your holdings a widow left with one child, and all the families and talents lost in that unspeakably tragedy, lots of money loss at your management incompetency.
Yes, they obviously didn’t do their due diligence. That doesn’t give him the right to steal. If you’ve committed fraud, you don’t get to keep the money for your fraud.
18 year old Hannah should not have suffocated to death on a 14 million dollars yacht.Captain and crew saved their shelves.🌹🎚️⚰️How many minutes before Captain and crew tried to help Mike and Hannah after Captain lost control of ship.
I think it's because of the time and they would have been sleeping. I understand the frustration, but the price of a yacht does not guarantee safety from unpredictable weather. it's nature. Although we must remember another member of the late Mr Lynch team died on the same day after a car accident now that the weirdess incident that it caught my eye the same moment it appeared on yt, I immediately posted on PW platform in the early hours I've never done that before. So I feel your frustration, and I don't even know these people, but a tragedy affects even the unknown. I hope Mrs Lynch and her daughter get through their grief so they can celebrate their memories. Imagine your child on her way in life, snuf out so young and bright.
Maybe they shouldn't have been on a yacht that had very poor stability recovery. The Captain and crew were tossed into the water when the yacht capsized. The weather turned from a breeze into a downburst in seconds. By that time, there was no helping anyone inside. You should get some facts before laying the blame.