HP Beats Investor Claims Over Ex-CEO's Severance

Law360, New York (September 25, 2012, 11:09 PM EDT) -- A California federal judge on Tuesday threw out a consolidated shareholder derivative complaint against Hewlett-Packard Co. and several of its officers over the severance package they gave the company's former CEO, but allowed the plaintiffs leave to amend.

U.S. District Judge Edward J. Davila ruled that the three plaintiffs had failed to show that HP’s board of directors wasted corporate assets in handing former CEO Mark Hurd tens of millions in cash and benefits when he resigned following allegations of sexual harassment by an independent contractor....
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