Former HP Counsel Wants Out Of 401(K) Class Action

Law360, New York (August 19, 2013, 3:46 PM EDT) -- A former general counsel for Hewlett-Packard Co. on Friday urged a California federal judge to release him from a putative class action accusing the company of failing to inform 401(k) plan participants of HP’s plummeting stock value, saying that the alleged conduct occurred after he left.

Michael Holston, HP’s former general counsel and member of the Plan Committee and Investment Review Committee, argued in the motion to dismiss that he left the company in December 2011 and cannot be held liable for alleged fiduciary breaches that...
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