Re: Are we going to take bets on the outcome?
Well as a defence, if they can say we told the auditors everything and they signed off - then it's a pretty good one. Given that HP are accusing them of fraud. Also remember that, to quote Rumpole (who wouldn't of course get involved in grubby commercial work:" The defence has to prove nothing. This is the golden thread that runs through British justice, my client need say nothing and you must still let him walk free unless the prosecution can prove its case beyond reasonable doubt. Or words to that effect... Perhaps I shouldn't have bought that Rumpole omnibus from Amazon last year?
I think the due dilligence is a red herring in this case. But will play awfully in any shareholder lawsuit if this trial fails.
I think HP have to prove that Autonomy lied during the due dilligence that did happen before the sale - I believe they were surprised (i.e. stupidly underprepared) about how little info you get in acquisitions in the UK compared to how things roll in the US - but that might be where the hardware vs. software sales in the figures could matter. Though as they didn't change the accounting for the difference after they took over - that looks pretty rubbish as an argument. Plus hardware sales weren't all that big.
And in verbal evidence they were only talking about a couple of million of possible "fraud" - faking sales to partners that were actually given as freebies. And that's just not material, and in the US and if so done by a witness who got immunity in exchange for testimony he sort of admitted was partly written for him by either HP lawyers or US prosecutors.
I'm assuming there must be more in the mounds of paperwork that we haven't seen? Otherwise I don't see how this trial hasn't been a colossal waste of everybody's time? Although good for Lynch to "clear his name" given there was only the threat of money lost at stake and if HP can't prove it "on the balance of probabilities" how can criminal trial manage proof "beyond reasonable doubt" - on the same evidence?