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Autonomy boss in 'deliberate fraud', court told

Mike Lynch
Image caption Mike Lynch, founder of Autonomy
The founder of software giant Autonomy, Mike Lynch, "committed a deliberate fraud over a sustained period of time" to artificially inflate its value, the High Court was told on Monday.
Hewlett-Packard (HP) is suing Mr Lynch and former chief financial officer Sushovan Hussain for $5bn (£3.8bn).
They claim the two "artificially inflated Autonomy's reported revenues, revenue growth and gross margins".
The trial is believed to be the UK's biggest civil fraud trial.
Hewlett-Packard (HP) paid $11.1bn (£8.4bn) in 2011 for the business.
The two men deny the claims and Mr Lynch, who was present at Monday's hearing, has launched a counter-claim for at least $125m in damages against HP for "a series of false, misleading and unfair public statements" about his alleged responsibility for supposed accounting irregularities and misrepresentations at Autonomy.

'Serious accounting improprieties'
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