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    HPQ   US40434L1052

HP INC.

(HPQ)
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Real-time Estimate Quote. Real-time Estimate Cboe BZX - 12/01 04:55:10 pm
36.535 USD   +3.56%
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HP : Lynch in limbo as ruling on $5bn HP case delayed

10/11/2021 | 01:21am EST

THE DECISION to extradite British entrepreneur Mike Lynch has been pushed to the end of the year after a judge delayed his decision in the separate $5bn (£3.7bn) case against Lynch by Hewlett-Packard.

A draft decision, spanning over 1,000 pages, had been expected to distributed to both Hewlett-Packard and Lynch by 24 September, according to reports.

But Justice Hildyard missed his own self-imposed deadline to issue the ruling, according to The Telegraph, which first reported the news.

It is not the first time the Judge has delayed making a decision in the biggest fraud trial in Britain. The High Court trial finished in January last year but Hildyard repeatedly delayed issuing a verdict, blaming the complexity of the case.

Lynch, a billionaire, faces accusations he flattered his own company, Autonomy, accounts to extract a better price when it was sold to Hewlett-Packard in 2011.

Hewlett-Packard wrote off $8.8bn of the value of the acquisition, a year after the sale.

The company blamed an alleged accounting fraud for $5bn of the impairment. Lynch - who has denied the accusation - could spend more than 20 years behind bars, if found guilty.

The postponement of the draft decision could delay the public announcement of a final verdict until 2022 which, in turn, could push back a decision on extraditing Lynch to the US.

In 2018, Lynch was charged by prosecutors in the US for multiple acts of fraud and has not travelled to the country since.

Although a judge, in July this year, ruled that Lynch could be sent to the US to face a trial over the $11bn sale of Autonomy to Hewlett-Packard, the home secretary Priti Patel postponed a ruling on approving his extradition until 29 November.

Hewlett Packard accused Lynch of "outright misrepresentations" in 2012 after the US tech firm wrote down the asset by three quarters.

The Serious Fraud Office in the UK investigated the accusations, however they closed their investigation in 2015 in light of insufficient evidence.

(c) 2021 City A.M., source Newspaper

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Analyst Recommendations on HP INC.
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Financials (USD)
Sales 2021 62 234 M - -
Net income 2021 4 394 M - -
Net Debt 2021 4 489 M - -
P/E ratio 2021 9,83x
Yield 2021 2,32%
Capitalization 40 661 M 40 661 M -
EV / Sales 2021 0,73x
EV / Sales 2022 0,69x
Nbr of Employees 53 000
Free-Float 99,8%
Chart HP INC.
Duration : Period :
HP Inc. Technical Analysis Chart | HPQ | US40434L1052 | MarketScreener
Technical analysis trends HP INC.
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 18
Last Close Price 35,28 $
Average target price 35,41 $
Spread / Average Target 0,36%
EPS Revisions
Managers and Directors
Enrique Lores President, Chief Executive Officer & Director
Marie E Myers Chief Financial Officer
Charles Victor Bergh Chairman
Glenn Hopkins Chief Technology Officer & Global Head-HP Labs
Barb Barton Weiszhaar Operations Lead & Controller
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