
Mike Lynch, a British software mogul, was acquitted of fraud on Thursday in San Francisco federal court. He was initially charged with 16 counts of fraud and conspiracy, though one fraud charge was eventually dismissed. The charges were related to allegedly falsely inflating revenue at Autonomy, the company he founded and led, when he sold it to Hewlett-Packard for $11 billion in 2011.

The original purchase price of Autonomy by Hewlett-Packard in 2011 was $11.7 billion.

Mike Lynch's trial lasted for 11 weeks.