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Didn’t stop £10 being broken - well done holders
Worst Case? If reputation is affected, revenue growth will be slower - how badly who knows. If DT is accused of knowingly using dirty money and being found guilty of the offence, then the very worst case could be end of game - but this is, in DT’s and other commentator’s assessment, extremely unlikely.
PB - If you are interested in the intrigue surrounding the ML affair from the perspective of DT, the section on risk - pgs 12-35 - oin the prospectus, goes into fine detail. It covers their assessment of how serious it could be for their reputation and whether there is any likelihood that they could fall foul of the anti-laundering laws as DT was funded in part by the proceeds from the Autonomy sale. If I recall correctly, their assessment of the risk was low and very low. Commentators believe this was one of several reasons the SP was pitched low at the IPO and the that the affair might still be sufficient to spook the market on any news about the case emerging.
Thanks Charles I agree whole heartedly and I am speaking as an investor in Autonomy who made a paper fortune in year 2000 and then lost most of it!
However my question isn't about Mike, the question is in the worst case (extradition and all that implies) what could that mean for DARK?
anyone care to share what they think the worst case scenario, Mike being extradited, would be for DARK?
Obviously extradition doesn't lead directly to a conviction but more uncertainty and most probably a conviction based on 17 counts of wire fraud.
So best news for DARK and of course for Mike is no extradition.
Extradition for him doesn't get much worse, 20 years or more and could die in prison.
What would that mean for DARK though?
As a seed investor does ML funds become the proceeds of crime and therefore DARK in trouble?
Agreed with HereKittyKitty - i think we need to be praying for Lynch not to be extradited. If you dig back into the news sources from the time, it seems clear he was key to the establishment and running of the company (ie not "just" an investor), long before some of the current directors even got involved. I've got a fair amount of DARK myself so im keeping everything crossed
In September 2013, Lynch announced Invoke had made its first investment, putting up to $20m into Darktrace (alongside Hoxton Ventures and Talis Capital) which describes itself as "the world's first behavioural cyber defence platform."[35][36][37]
On 14 September 2016, Invoke Capital announced its investment, in collaboration with Slaughter and May, in Legal AI Technology Luminance.[38]
In April 2021, Following its confirmation to float, Darktrace was listed on the London Stock Exchange with an initial public offering (IPO) of Shares at 250 pence per Share.[39] At about 8:15 a.m. London time, Darktrace shares climbed to more than 358p, up 43% from its IPO price.[40][41]
So he is indirectly involved through financing them through his company vs just being a shareholder
If you look at his career it lists Darktrace
https://en.m.wikipedia.org/wiki/Michael_Richard_Lynch
Charles - seems to me that the investors on the extremes of the investing spectrum need different skills and human attributes.
So, for instance, long term investors need imagination on what a company could bring to the world, strong analytical capacities to determine intrinsic company value and need that human characteristic of patience. The other end of the spectrum, short term traders (it only seems to me as I am not one) would need the skill to reason short term price movements (behaviour/sentiment of the market) and the human characteristic of decisiveness.
Personally I only have some skills and temperament to play the long game, can imagine how the short game should be played, but would find paying the middle game that requires a combination of distinct skills and human traits a very difficult game to play successfully.
It seems to me you are in that middle ground like some others, and have been quite successful while hitched to a rising star - congratulations.
Charles - if you believe your own repeated predictions on the SP medium term, and don’t think there is anything now better in the market to buy, why “muppet”?
I think he will be extradited.
Reasons for thinking this is that it is about fraud and the US authorities never give up on that.
Think Al Capone and more recently Elizabeth Holmes and Theranos facing 20 years in jail.
Then think Biden and his relationship with UK, its never going to special.
Finally a judge in the UK has already ruledThe British tech entrepreneur Mike Lynch should be extradited to the US to face criminal fraud charges, a London judge has ruled.
Michael Snow, district judge at Westminster magistrates court, refused Lynch’s attempt to block his extradition to the US to face 17 counts including wire fraud and securities fraud related to the 2011 sale of his technology firm, Autonomy.
Use the dip to buy though as Mike is not part of DARK now.
lol..
Hang on, there's ANOTHER muppet - i thought that was ALWAYS me who bought in the hype :)
Biden thinks he is Irish and links that to a dislike of the Britain, I don't see BJ improving on that in any way.
Bozo's asked Biden to think about it, that's my guess.
Home office delays Mike Lynch extradition decision
The Home Office has delayed its decision on whether to extradite Mike Lynch, the alleged architect of Britain's biggest corporate fraud, to the US.
Wednesday was the initial deadline for the Home Secretary, Priti Patel, to confirm or cancel Mr Lynch’s extradition. However the Home Office confirmed today that the decision has been pushed back by seven days.
A Home Office spokesperson said: “Extensions for making a decision on any given case can be made under the Extradition Act 2003. The Home Secretary is giving full consideration to the relevant issues raised in this case.”
A judge ruled in July that it was “in the interests of justice” to extradite the Autonomy founder, who is wanted on charges of fraud over the sale of a software company, to the US.
The 56-year-old denies all charges.
Mike Lynch extradition hearing delayed by Home Office - live updates
https://www.telegraph.co.uk/business/2021/09/22/markets-live-latest-coronavirus-news-pound-euro-ftse-100/