Mike Lynch, U.K. Tech Mogul, Is Acquitted of Fraud – The New York Times

Mike Lynch, a British software mogul who was once one of his country’s most celebrated chief executives, was acquitted of fraud on Thursday in San Francisco federal court, clearing him of charges that he had led one of the biggest frauds in the technology industry.

A jury found him not guilty of falsely inflating revenue at Autonomy, the company he founded and led, when he sold it to Hewlett-Packard for $11 billion in 2011.

Mr. Lynch, 58, who faced decades in prison, had initially been charged with 16 counts of fraud and conspiracy, though one fraud charge was eventually dismissed.

Source: Mike Lynch, U.K. Tech Mogul, Is Acquitted of Fraud – The New York Times