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Archivo del Autor: Belen De Leon

DoJ charges Autonomy founder with fraud over $11BN sale to HP

UK entrepreneur turned billionaire investor, Mike Lynch, has been charged with fraud in US over the 2011 sale of his enterprise software company.

Lynch sold Autonomy, the big data company he founded back in 1996, to computer giant HP for around $11BN some seven years ago.

But within a year around three-quarters of the value of the business had been written off, with HP accusing Autonomy’s management of accounting misrepresentations and disclosure failures.

Lynch has always rejected the allegations, and after HP sought to sue him in UK courts he countersued in 2015.

Meanwhile the UK’s own Serious Fraud Office dropped an investigation into the Autonomy sale in 2015 — finding “insufficient evidence for a realistic prospect of conviction”.

But now the DoJ has filed charges in a San Francisco court, accusing Lynch and other senior Autonomy executives of making false statement that inflated the value of the company.

They face 14 counts of conspiracy and fraud, according to Reuters — a charge which carries a maximum penalty of 20 years in prison.

We’ve reached out to Lynch’s fund, Invoke Capital, for comment on the latest development.

The BBC has obtained a statement from his lawyers, Chris Morvillo of Clifford Chance and Reid Weingarten of Steptoe & Johnson, which describes the indictment as “a travesty of justice”.

The statement also claims Lynch is being made a scapegoat for HP’s failures, framing the allegations as a business dispute over the application of UK accounting standards. 

Two years ago we interviewed Lynch on stage at TechCrunch Disrupt London and he mocked the morass of allegations still swirling around the acquisition as “spin and bullshit”.

Following the latest developments, the BBC reports that Lynch has stepped down as a scientific adviser to the UK government.

“Dr. Lynch has decided to resign his membership of the CST [Council for Science and Technology] with immediate effect. We appreciate the valuable contribution he has made to the CST in recent years,” a government spokesperson told it.


Source: TechCrunch

Airstream adds app-control to Classic trailers – Roadshow

New Smart Control Technology keeps campers connected to their retro-cool trailers.
Source: CNET

How to live stream on YouTube with OBS

Need to learn how to live stream on YouTube with OBS? You’ll need to set up the software and have a YouTube channel ready to go, but if you’ve done all that, linking them together is quick and easy.

The post How to live stream on YouTube with OBS appeared first on Digital Trends.


Source: Digital trends

These Professional Portraits of Animals Evoke Human Emotion

Photographer Randal Ford spent two years taking studio photographs for ‘The Animal Kingdom’.
Source: Wired

Everything WIRED Editors Loved This Month: Phones, Drones, and RoboVacs

Plus: Samsung’s bendy phone, Apple’s MacBook Air, and Microsoft’s Surface Headphones.
Source: Wired

What Would It Take to Shoot a Cannonball Into Orbit?

We did the math on a famous thought experiment by Isaac Newton involving a very tall mountain, a wicked fast cannonball, and good old gravity.
Source: Wired

A Possible 'Fallout 76' Lawsuit Leads the Week in Game News

If one law firm has its way, publisher Bethesda may need to pay for its alleged practices.
Source: Wired

AKG N700NC review: Serious audio chops to compete with Sony and Bose – CNET

AKG’s excellent sounding noise-canceling headphone is a worthy contender that just needs to cost a little less.
Source: CNET

NASA's InSight landing and the crazy odds behind getting to Mars video – CNET

After flying more than 260 million miles, NASA’s latest mission to Mars came down to seven incredibly impressive (and terrifying) minutes.
Source: CNET

TikTok Is a Short-Form Monetized Musical Meme Machine

Tween sensation TikTok is not-quite-Snapchat and not-quite-Vine. But it’s betting on 15-second clips, while other platforms pivot to longer videos.
Source: Wired

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