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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
02/26/201510:44:02MARKET SNAPSHOT: S&P End Little Changed; Dow Ekes Out Record...
02/25/201517:06:21Dow Inches Up to a New Record
02/25/201515:41:38Aruba Networks Shares Rise After Bloomberg Report of H-P Talks...
02/25/201515:40:47H-P in Talks to Buy Aruba Networks -Bloomberg
02/25/201515:35:14MARKET SNAPSHOT: U.S. Stocks Turn Lower In Late Trading
02/25/201513:56:22MARKET SNAPSHOT: U.S. Stocks Edge Higher To Record Levels
02/25/201511:36:03MARKET SNAPSHOT: U.S. Stocks Retreat From Records As Investors...
02/25/201511:35:13MARKET SNAPSHOT: U.S. Stocks Retreat From Records Ahead Of Yellen...
02/25/201509:15:11MARKET SNAPSHOT: U.S. Stocks: Wall Street Awaits More Action...
02/25/201507:54:16MARKET SNAPSHOT: U.S. Stocks: Wall Street Set To Take A Breather...
02/24/201517:19:02Hewlett-Packard's Profit Falls As Desktop PC Sales Fall--2nd...
02/24/201517:10:36Hewlett-Packard's Profit Falls As Desktop PC Sales Fall--Update
02/24/201516:47:32Hewlett-Packard's Profit Falls As Desktop PC Sales Fall
02/24/201509:42:04Deutsche Bank, Hewlett-Packard Sign IT Agreement -- Update
02/24/201507:40:01MARKET SNAPSHOT: U.S. Stocks: Investors Await Direction From...
02/24/201506:14:31MARKET SNAPSHOT: U.S. Stocks: Investors Wait For Fresh Direction...
02/24/201506:00:16Deutsche Bank, Hewlett-Packard Sign Agreement
02/24/201505:43:37Deutsche Bank, Hewlett-Packard Sign Multibillion Dollar Agreement
02/23/201504:33:17MARKET SNAPSHOT: Stock Valuations Climb As Retailers Wrap Earnings...
02/22/201509:21:20MARKET SNAPSHOT: Stock Valuations Climb As Retail Earnings Wraps...

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