HP Derivative Case Stayed For Probe Of Ex-CEO's Exit

Law360, New York (January 20, 2011, 4:10 PM EST) -- A federal judge agreed to stay derivative litigation over ex-Hewlett Packard Co. CEO Mark Hurd's allegedly excessive severance award Thursday while a committee of independent directors looks into Hurd's departure from HP and the approval of his separation agreement.

Judge James Ware of the U.S. District Court for the Northern District of California signed off on an order staying the case for 45 days.

In a joint case management statement filed Jan. 14, nominal defendant HP, the lead plaintiffs and the director defendants asked the court...
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