Slaughters Senior Partner Gives Evidence as CC Battles Travers in $5BN Mike Lynch Lawsuit
Steve Cooke could be called to the stand in one of the UK's largest-ever civil fraud cases, which has generated roles for Clifford Chance, Travers and Simmons.
April 01, 2019 at 05:25 AM
4 minute read
Slaughter and May senior partner Steve Cooke has been called on as a witness in one of the U.K.'s largest civil fraud cases – the $5 billion damages claim by U.S. technology giant Hewlett-Packard against two former Autonomy software directors.
According to the 900-page written opening statement lodged by the claimants' counsel in London's High Court on March 8, Cooke has provided a written witness statement that could see him called to the stand later in the year. Witnesses are due to start being called from today (April 1) in the High Court.
Hewlett-Packard and three other claimants are suing former Autonomy chief executive Dr Mike Lynch and ex-chief financial officer Sushovan Hussain, alleging the two engaged in a "deliberate fraud perpetrated by the defendants" as part of the £7.1 billion purchase of Autonomy by Hewlett-Packard in 2011.
Cooke and former corporate partner Gary Eaborn headed the Slaughters' team, which took the lead role advising Autonomy on the deal.
According to the opening statement, Cooke's evidence "exclusively addresses when Slaughter and May was first approached by Dr Lynch about putting Autonomy up for sale".
A spokesman for Slaughters declined to comment on the content of the statement or on the case.
Travers Smith is representing all four claimants in the UK case, with disputes partners Toby Robinson, Andrew King, Jan-Jaap Baer and Stephanie Lee leading for the firm.
In the written opening statement, Cooke is first referenced as being among a "rollcall of witnesses", for Lynch, counting, "such eminent individuals as the senior partner of Slaughter and May".
The statement continues: "Yet, for all this, it is clear on the evidence that Dr Lynch committed a deliberate fraud over a sustained period of time."
Initial allegations of financial impropriety and misrepresentation were made by Hewlett-Packard against Lynch in a press statement in 2012, when it first announced it had made a $5 billion writedown of Autonomy following an internal investigation by HP after the sale.
Clifford Chance is representing Lynch personally in the case, with disputes and regulatory investigations partner Kelwin Nicholls taking the lead. Hussain, the second defendant, is represented by Simmons & Simmons' dispute resolution head Ian Hammond.
Clifford Chance is also acting for Lynch in a separate action in the U.S., where he is facing 14 counts of fraud relating to the sale of Autonomy to HP. These allegations were filed last November (2018). New York white-collar partner Chris Morvillo is leading counsel, alongside U.S. firm Steptoe & Johnson's Reid Weingarten.
Witnesses for the claimants' side are due to provide their evidence to the court during the next nine weeks, beginning today (April 1). The defendants' witnesses will be heard from June onwards. The case is scheduled to finish by the end of this year.
Following the initial fraud allegations, Legal Week sought comment from Slaughters over whether it would continue its association with Lynch.
A spokesman for Slaughters declined to comment on the matter. However, the firm has continued to invest in Luminance – a company that counts the firm and Lynch's venture capital company Invoke Capital as primary investors – and participated in February's £10m Series-B fundraising, maintaining its stake at 5 per cent. Lynch also sits on the Luminance board.
In a 2016 interview with Legal Week, Slaughters' Cooke said the firm's decision to work with Luminance was prompted by a discussion at a lunch meeting with Lynch.
According to Luminance, Lynch offered to step down from the company's board in the past, but his resignation was not accepted by the company.
Luminance would not comment on exactly when Lynch offered his resignation, although Lynch is widely reported to have stepped down from his position as adviser to the UK Government and from board positions on two more companies last December.
CEO of Luminance Emily Foges said in a statement: "Mike is a unique entrepreneur and a tremendous supporter. We look forward to continuing to work with him."
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View AllNew Frontiers: Gaillard Banifatemi Shelbaya Launches in Cairo and Abu Dhabi
4 minute readTravers Gives Holiday Bonus, Ropes & Gray Reduces Time Off Allowance
1 minute readJapan’s Mori Hamada Joins Funder LCM for $150M Credit Suisse Bonds Claim
Trending Stories
- 1Outgoing USPTO Director Kathi Vidal: ‘We All Want the Country to Be in a Better Place’
- 2Supreme Court Will Review Constitutionality Of FCC's Universal Service Fund
- 3'It Refreshes Me': King & Spalding Privacy Leader Doubles as Equestrian Champ
- 4Class Action Filed Against Houston Health Savings Account Firm for Allegedly Confiscating Client Funds
- 5These 2 Lawyers Just Became Florida Judges
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250