Judge Tosses Derivative Claim Over Ex-HP CEO Hurd's Exit
By Matt Chiappardi
Law360, New York (May 6, 2013, 10:32 PM ET) -- A California federal judge on Monday threw out a derivative lawsuit over the allegedly excessive severance award ex-Hewlett Packard Co. CEO Mark Hurd took home, ruling the investor could not pursue his claim after HP’s board of directors refused to look into his accusations.
U.S. District Judge Edward J. Davila ruled that investor A.J. Copeland, who sued in March 2011, was unable to sufficiently show the board had acted improperly after being brought the accusations, and thus didn’t have a claim.