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Tuesday, Mar 19, 2024

Image: Reuters

🇬🇧🇺🇸 A UK entrepreneur is standing trial for orchestrating what’s been deemed the “largest fraud in Silicon Valley history.” The case centers around former UK tech mogul Mike Lynch, who allegedly falsified accounts to inflate revenues for his software company Autonomy, then sold it to Hewlett-Packard for $11.7 billion in 2011. Shortly after the deal, HP wrote down Autonomy’s value by $8.8 billion, with most of that figure attributed to serious accounting improprieties. Lynch will be tried on 16 counts of wire and securities fraud in San Francisco over the next three months, and could spend up to 25 years in prison if convicted.

🇨🇺🧠 New research on the mysterious "Havana syndrome" is raising more questions. Havana syndrome first emerged among US government employees stationed abroad in 2016, with ~1,500 cases reported across 96 different counties to date. The syndrome carries symptoms consistent with head trauma, including dizziness and extreme headaches. However, in a pair of studies published yesterday, scientists with the National Institutes of Health found no physical evidence of brain injury in patients with Havana syndrome, as well as no significant clinical differences between those patients and other people who had similar jobs.

🇦🇺 Uber will pay $178 million to compensate Australian taxi drivers. In a class-action lawsuit filed in 2019, some 8,000 local taxi drivers alleged that Uber illegally operated in four Australian states when it first came to the country in 2012, causing losses to authorized taxi operators. Uber said it never knowingly broke the law, since rideshare regulations didn’t exist at the time, but agreed to pay the financial settlement to avoid a trial.

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