Italian Sea Group Clears Liability Amid Superyacht Sinking Tragedy

The Italian Sea Group has declared it bears no liability for the tragic sinking of tech billionaire Mike Lynch's superyacht. The vessel, constructed in 2008 by Perini Navi, succumbed to a storm off Sicily's coast. An investigation into the incident is currently underway.

The Italian Sea Group has been declared not liable in the tragic sinking of tech billionaire Mike Lynch's superyacht, according to CEO Giovanni Costantino.

The vessel, designed by luxury yacht maker Perini Navi, sank in August amid a violent storm near Sicily.

An Italian prosecutor is investigating the incident, which has baffled industry experts.

(With inputs from agencies.)