Hurd’s HP exit probed by SEC

first_img Hurd’s HP exit probed by SEC whatsapp KCS-content Tuesday 21 December 2010 8:19 pm Share whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical GeniusMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Timescenter_img Show Comments ▼ Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily Proof Tags: NULL US REGULATORS are investigating allegations around former Hewlett-Packard (HP) chief executive Mark Hurd’s exit from the company, it was announced yesterday.The Securities and Exchange Commission (SEC) is probing allegations that Hurd shared inside information with former HP events contractor Jodie Fisher, whose sexual harassment accusations led to an expenses investigation that caused him to resign.The SEC is looking into all the allegations, including the internal inquiry that led to his departure. The investigation may not result in a formal claim against HP or Hurd, however.“HP is cooperating fully with the SEC on its investigation,” a HP spokesperson said in the company’s only statement on the matter so far.HP has reportedly given SEC investigators a letter sent by Fisher to HP’s board detailing the claims against Hurd. The insider trading claims allege that Hurd told Fisher about HP’s plans to buy service provider Electronic Data Systems (EDS) in 2008 before it was publicly known. Fisher has denied that she used the information or profited from it.Hurd has always denied having an inappropriate relationship with Fisher and HP’s board conducted an internal probe that concluded Hurd didn’t violate the company’s sexual-harassment policy. But when investigating the allegations, the board found that Hurd had filed misleading expense claims to secure money for Fisher.Hurd’s resignation in August caused a backlash at HP as shareholders responded furiously to the decision. He is credited with building the company into a tech giant – not least by engineering the $13.9bn (£9bn) takeover of EDS. To add to the controversy, Hurd was immediately appointed co-president at Oracle, HP’s major rival, after resigning.“Mark acted properly in all respects,” said a spokesman for Hurd. “It is understandable that the SEC is looking into the events surrounding Mark’s departure, which was followed by a precipitous drop in the value of HP’s stock.” last_img read more