HP is allowed to launch a new investigation in Hurd’s ouster
30th January, 2011 by adina
Tags: General, HP
Following an approval of a federal judge, Hewlett Packard is now allowed to launch another inquiry in to the ouster of Mark Hurd, former CEO. Federal judge James Ware at the same time declined Hurd’s access to documents which might reveal additional aspects related to his departure. However, the decision of the judge does not explicitly disallow the former CEO to view those documents into further legal proceedings.
The decision of judge Ware affects an ongoing lawsuit which was filed by shareholders against Hewlett Packard. The accusations of the group are related to an allegedly mishandling of the executive’s departure, which allowed him to resign with unreasonable payment as a part of a severance deal.
Mark Hurd resisted this second investigation and suggested he would agree on the action if additional documents were provided. The matter is currently investigated by the Securities and Exchange Commission, as part of a separate inquiry which addresses insider training.
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