HP Boots Derivative Suit Over Alleged Bribes

Law360, New York (March 22, 2012, 6:32 PM EDT) -- A California federal judge on Wednesday tossed a shareholder derivative suit against Hewlett-Packard Co. and 11 of its current and former officers that targeted the company's alleged bribery of government contractors and vendors in order to sway federal contract awards.

U.S. District Judge Edward J. Davila granted three separate dismissal motions from HP, former CEO and chairman of the board Mark Hurd, and 10 current HP directors. The judge held that plaintiff Saginaw Police and Fire Pension Fund did not show that it had been excused...
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