SEC Orders HP To Follow Board Disclosure Rules

Law360, New York (May 24, 2007, 12:00 AM EDT) -- Federal regulators have ordered Hewlett-Packard Co. to disclose disagreements which led to director resignations after former board member Thomas Perkins abruptly resigned over the computer giant’s handling of boardroom media leaks.

HP agreed to the entry of a cease-and-desist order to settle charges set forth by the U.S. Securities and Exchange Commission. The order prohibits HP from violating the public reporting requirements of the Securities Exchange Act of 1934.

"HP acted in what it believed to be a proper manner," said Michael Holston, executive vice president...
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