Hewlett Packard Enterprise (NYSE:HPE) announced on Monday that it will continue its legal efforts to claim up to $4 billion in damages from the estate of British billionaire Mike Lynch in the UK.
This follows the company's ongoing pursuit of compensation related to its 2011 acquisition of the British tech firm Autonomy, which was marred by allegations of fraud.
The U.S. tech giant had accused Lynch, co-founder of Autonomy, of orchestrating a scheme to inflate the company's value prior to the $11.1 billion purchase, one of the largest tech deals in UK history.
Lynch, who passed away in August after his yacht sank off the coast of Sicily, had consistently denied any wrongdoing.
In an emailed statement to Reuters, HPE confirmed its commitment to seeing the legal proceedings through to their conclusion.
"It is HPE's intention to follow the proceedings through to their conclusion," the company said.
In 2022, HPE won a civil case against Lynch, though a High Court judge indicated that any awarded damages would be less than the $5 billion originally sought by the company.
The lawsuit also named Autonomy's former chief financial officer, Sushovan Hussain, as a co-defendant.
At the time of this report, HP's share price was $36.18, up over 2% in early trading.