HP Execs Hit With Derivative Suit Over CEO Departure

Law360, New York (August 12, 2010, 6:43 PM EDT) -- Hewlett-Packard Co. shareholders have lodged a derivative suit against the company's executives, former executives and corporate governance committees, saying they breached fiduciary duty by mismanaging the messy departure of former CEO Mark Hurd following a sexual harassment scandal.

The board's failure to disclose the investigation to shareholders, as well as its attempt to unlawfully gift Hurd millions of dollars in severance benefits, caused a 10 percent drop in the company's stock value, according to a complaint lodged Thursday in the the Superior Court of the State...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.