HP Board Faces New Shareholder Suit Over FCPA Violations
By Stephanie Russell-Kraft
Law360, New York (February 11, 2014, 1:16 PM ET) -- A slew of Hewlett Packard Co. board members were hit with a derivative suit in California federal court Monday alleging they covered up HP's overseas kickback schemes, failed to cooperate with investigators and wasted corporate resources by recklessly acquiring unprofitable companies.
Shareholder A.J. Copeland filed the suit against a several current and former HP board members, including former CEO Leo Apotheker and current CEO Margaret “Meg” C. Whitman, alleging they actively participated in and covered up a widespread scheme of overseas bribery and kickbacks, forcing the...