Mike Lynch Faces Fraud Trial Over Autonomy's Sale to HP

The trial centers on allegations of 'handshake deals' and accounting fraud leading to a significant write-off by Hewlett-Packard.

Mike Lynch, founder of British tech company Autonomy, is on trial in the US accused of fraud over the company’s sale to Hewlett-Packard in 2011.
Prosecutors allege Autonomy boosted its revenue with 'handshake deals,' paying customers to buy its software, leading to inflated company value claims.
Former employees testify about being fired for raising accounting concerns, while defense argues unfamiliarity with UK accounting standards among US witnesses.
Defense highlights that key testimony did not directly implicate Lynch, emphasizing the complexity of the case and differing accounting practices.
The trial, which started this week, is expected to last three months, with further testimonies anticipated to shed more light on the allegations.