HP Investor Suit Over Hurd's $40M Payout Dismissed

Law360, New York (June 22, 2012, 4:20 PM ET) -- A Delaware judge on Thursday dismissed a Hewlett-Packard Co. shareholder's lawsuit against the company’s directors alleging they harmed the company by giving former CEO Mark Hurd a $40 million severance package and not having a successor ready in waiting.

The judge said plaintiff Lawrence Zucker did not either make a demand on the board to instigate the legal action that he sought to bring on the corporation’s behalf or allege why such a demand is excused. Hurd was fired by HP’s board after details of his...
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