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shaun170284, have you read today's RNSs ? Positive re CEO Poppy share purchase yesterday and not sure of accuracy of other one as thought two DARK execs named as members of Auronomy 'clique' involved with Mike Lynch ? I too remain invested and will look at buying more today if low enough !!
Yep, constant negativity from the press with regards Darktrace. Not that I'm too bothered as I'm currently topping up monthly, currently have 40% of the holding I'm aiming for. Once there these will get tucked away for many years.
What's the press agenda? Not entirely sure but I believe the company will be many many multiples of todays S. P in years from now. GL all
The Telegraph article says Ms Eagan was under “continuing investigation by the US DoJ” as recently as January 2021.
So there is no evidence that she is under investigation but the press phrased it to sound like she is.
The key words.
"Although there is nothing to suggest she is a target of any legal proceedings either here or in the US."
This judgement was reached on the 28th January. Somebody sat on this for 4 months and fed it to the Telegraph (Hedge Fund)
https://www.techmarketview.com/ukhotviews/archive/2022/05/18/the-tragedy-of-the-mike-lynchautonomy-saga-continues
One of the many consequences of all this was seen today as Darktrace’s shares plunged 15% as the High Court papers revealed that Nicole Eagan, Darktrace’s Chief Strategy officer, was ‘part of the clique’ when she was employed at Autonomy. Although there is nothing to suggest she is a target of any legal proceedings either here or in the US. Readers probably don’t need reminding that Lynch was deeply involved in the creation of Darktrace.
I have empathy with the words of Justice Hildyard who said in the High Court report issued yesterday that it was a ‘tragedy’ that ‘an innovative and ground-breaking product, its architect and the company will probably always be associated with fraud’. But that he hoped his judgement does not ‘destroy the legacy of a wonderful company’ of which ‘Autonomy’s many former employees can remain proud’. Note – Quotes from The Times 18th May 22.
Indeed, a tragedy in every way.
The negative news seems quite remote IMO
Like others, I bought more today!!
Hopefully will pay off in the long run.
Dismal sp but I might be tempted to up my holding tomorrow.
But I wonder Doyeezee, will this fraudulent association with key staff be PR negative for DARK and many contracts cancelled subsequently. Customers are wary of dealing with fraudsters because of lack of trust. Personally, I would execute those involved in very serious fraud, eg Madoff who now is dead amd US let him live due to his old age, and even Mike Lynch, but lucky for them I'm not in charge !! I'm a LTH and hope the two *****es connected with Autonomy in DARK are discarded asap
I was sensible (for once) to sell about 60% of my holding at 490 when I doubled down at the previous drop to around 330. Averaged at 380 still and will see what this does tomorrow (not looking good unless US reverses during the session) but will look to double down again if SP gets pummelled as even with some of the ‘historic dodgy characters’ that are attached to the company, I think they have a class leading product which is backed up by recent client/revenue numbers and of course partnered with Microsoft so I’m sure they’ve done a good bit of due diligence on DT. GLA
Topped up at 3.25 and 3.30..... GLALTH
Thanks for the IG update. Picked up a few and got some in reserve.
If it doesn't affect the pounds shilling and pence then happy to stock up for next contract awards and next update. Threat of Russian cyber attacks has never been so prevalent what with the war in Ukraina dn western support and there have been plenty warnings about it in the US, UK and in Europe.
GL all
Door closed to buying. NT or trade plan only.
i just bought more @327p.
Nicole Eagan was allocated/awarded 14,147,500 shares in the IPO
Wait till you find out Jack Stockdale another ex Autonomy was allocated 6,399,750 shares at IPO
"so it will be a shame if she goes."
I believe she left 2 years ago
Very big call to buy or sell. Not a scoopy - better plays out there. Autonomy/HP quite rightly isn’t going away.
One cog in a much bigger engine of a totally separate vehicle now grotty face.
Still if they want to give us an entry at a 15%, 12% or 10% discount to what already looked a discounted price then it would be rude not to imho
Just pick up 15k, will scale more in on further weakness
As sure as night follows day...todays news is tomorrows chip paper. This will bounce back for sure
She appears to be very useful, so it will be a shame if she goes.
"Nicole Eagan is Chief Strategy Officer and AI Officer of Darktrace. Her extensive career in technology spans 30 years working for Oracle and early to late-stage growth companies. Nicole identifies and shapes Darktrace’s strategic plan, leads the Company’s AI vision together with our CTO, and provides product strategy and direction. A core part of the executive team, during Nicole’s tenure, Darktrace has won more than 100 awards, and the company has been named one of WSJ’s ‘Tech Companies to Watch’, Fast Company’s ‘Most Innovative Companies’, and a CNBC ‘Disruptor 50’. Nicole was named ‘AI Leader of the Year’ and was awarded the top position on The Software Report’s ‘Top 25 Women Leaders in Cybersecurity’ in 2020."
However, she's in no position to commit fraud at Darktrace.
Getafgrip: you may be right.
"After leaving Autonomy, Eagan set up Darktrace with a number of other tech experts and became co-chief executive alongside fellow founder and current head Poppy Gustafsson. Eagan, currently Darktrace’s chief strategy officer and AI officer, remained in the role until mid 2020."
LPD - hasn't the judge made defamatory remarks.
GF - "Nicole Eagan is not on the board. She's just an ordinary employee." So she is just an ordinary co-founder of Darktrace along with Poppy & was actually a Board member. I wonder why/if she stopped being a Board member!
GF - "I met all the board. I can assure you they are all honest." Exactly how do you substantiate this statement?
GF - Her profile states that "Nicole identifies and shapes Darktrace’s strategic plan, leads the Company’s AI vision together with our CTO." This does not imply that Jack Stockdale is in charge of her activities, but that they work together. Jack Stockdales profile does not indicate he has responsibility for strategy "Jack is responsible for overseeing the development of Bayesian mathematical models and artificial intelligence algorithms that underpin Darktrace’s award-winning technology." She appears to report directly to the Board & I would be very surprised if she is not technically a shadow director.
This is a Sword of Damocles that has been hanging over Darktrace for in excess of a year now. It is difficult to argue that Mike Lynch acted alone in inflating the Autonomy share price, the Autonomy CFO has already been jailed, now Judge Hayward states there was something akin to a concert party.
It does not get much worse & there will be demands for not just resignations, but possibly a takeover by a company that can be trusted. Darktrace is very vulnerable right now.
Nothing really new here, but will pass up the opportunity to buy. Pretty scary where this could end up once USA wakes up. Probably in their interest to go on a shorting spree.
not hard to get a quote on a reasonable amount HL just quoted me 322.40....if your interested.....haven't dealt waiting to see what the US markets do....gl
Thanks TheClive. I also managed to get some and had to persist and break my order down into smaller amounts.
Managed to buy 1k shares. When I requested quotes only got firm offer 25% of time. Left limit order in the end which got filled. I'm with iWeb/Halifax.