Autonomy pair faces $5bn lawsuit from HP

HP alleges Mike Lynch and Sushovan Hussain "engaged in fraudulent activities while executives at Autonomy"

The former leaders of Autonomy are being sued for more than $5bn (£3.38bn) by HP, prompting them to make a counterclaim in excess of £100m against the vendor.

A statement from an HP spokesperson outlines that yesterday the vendor filed a claim with the Chancery Division of the High Court in London against Mike Lynch and Sushovan Hussain. HP alleges that the duo "engaged in fraudulent activities while executives at Autonomy". The US firm is seeking damages of about $5.1bn, but said it "will not comment further until the proceedings have been served on the defendants".

The AutonomyAccounts.org website - set up by the former Autonomy management team to post updates on the HP affair - has responded with a statement revealing that Mike Lynch is preparing a counterclaim, which is reportedly "likely to be in excess of £100m" and will be filed in the UK.

"The former management of Autonomy announces today they will file claims against HP for loss and damage caused by false and negligent statements made against them by HP on 20 November 2012 and in HP's subsequent smear campaign," adds the statement.

This saga has now been rumbling on for almost two and a half years, with HP first alleging in 2012 that the leadership of Autonomy had been cooking the books prior to its $11.1bn acquisition by the US giant the previous year. The filing of a suit in the UK follows the launch last summer of litigation on the other side of the Atlantic.

According to Forbes, Mike Lynch is the only UK billionaire to have made his fortune from tech. However, his personal worth - which is pegged at a total of $1bn - is significantly less than the amount being sought by HP.