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Suit Over HP Former CEO Hurd Payout Dismissed

A Delaware court dismissed a shareholder lawsuit seeking to hold Hewlett-Packard Co.'s (HPQ) board responsible for approving former chief executive Mark Hurd's $40-million severance after he resigned in August 2010, Reuters reported on its website Friday. Hurd, who is now co-president of Oracle Corp. (ORCL), resigned following allegations of sexual harassment against marketing contractor Jodie Fisher. He was exonerated of those allegations by an internal H-P investigation, but the probe found he had filed inaccurate expense reports. Shareholder Lawrence Zucker sued H-P's board, claiming they wasted company money by agreeing to such a large severance instead of firing Hurd for cause and paying him nothing. But Judge Donald Parsons of the Delaware Chancery Court ruled the board acted in good faith in approving the payment, adding that denying severance to Hurd could have hurt the computer maker by making it more difficult to find a replacement, Reuters reported. Parsons also dismissed a claim accusing H-P of poor succession planning, the report said. Full story at http://www.reuters.com/article/2012/06/22/us-hp-hurd-lawsuit-idUSBRE85L0XE2012062 Write to nymonitoring@dowjones.com

Stock News for Hewlett Packard (HPQ)
DateTimeHeadline
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01/21/201513:18:492014 Tech Job Cuts Hit Highest Level Since 2009 -- Challenger
01/19/201514:01:19U.K.'s SFO Ends Probe into Hewlett-Packard Deal -- Update
01/19/201508:46:08UK's SFO Ends Probe into Hewlett-Packard's Autonomy Deal
01/12/201519:30:32PC Shipments Boosted In 4Q By Strength In U.S. -- Update
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01/12/201519:29:52PC Shipments Boosted In Fourth Quarter By Strength In U.S.
01/05/201522:00:44Samsung Electronics to Launch Tizen-Based TVs In February
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12/12/201400:34:47Hortonworks Prices IPO at $16 a Share
12/08/201418:55:23TECH STOCKS: EBay Shares Rise On Ratings Upgrade
12/02/201400:50:44H-P to Unveil New Integrity Servers Ahead of Breakup
11/26/201415:12:13MARKET SNAPSHOT: U.S. Stocks: Futures Weaken After Data
11/26/201411:22:36MARKET SNAPSHOT: U.S. Stocks: Futures Edge Up Ahead Of Data Deluge
11/25/201419:28:10H-P's Revenue Drops Yet Again As It Prepares For Split
11/25/201416:59:42H-P's Revenue Drops Again Ahead of Planned Split -- 2nd Update
11/25/201416:51:36H-P's Revenue Drops Again Ahead of Planned Split -- Update
11/25/201416:43:12H-P's Revenue Drops Again Ahead of Planned Split

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