HP To Pay $6M To Settle SEC Claims Of Investor Fraud
By Rachel O'Brien (September 30, 2020, 8:20 PM EDT) -- HP agreed Wednesday to pay a $6 million fine to settle U.S. Securities and Exchange Commission claims that in 2015 and 2016, the technology company hid from investors irresponsible sales practices and management of its inventory, the SEC announced.
When tracking sales of it personal computers, printers and printer supplies, HP recognized sales of "channel inventory" — supplies sold to distributors — immediately upon selling to them, regardless of whether they were ever sold to end users, the SEC said.
HP didn't disclose to the market that while there was a ceiling on how much inventory could be in the channel,...
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