HP sued over Hurd ousting

Summary:The first lawsuit on behalf of a shareholder has been filed against HP in connection to the resignation of former chief executive Mark Hurd.

The first lawsuit on behalf of a shareholder has been filed against HP in connection to the resignation of former chief executive Mark Hurd.

The Wall Street Journal first reported on Thursday that a Connecticut law firm is representing HP shareholder Brockton Contributory Retirement System in a complaint against HP's board of directors, Hurd and interim chief executive Cathie Lesjak. The suit accuses the board of breach of fiduciary duties in how it handled Hurd's resignation.

The board on Friday announced that it asked Hurd to resign as chief executive of one of the world's foremost technology companies after he was accused of sexual harassment by former HP marketing contractor Jodie Fisher. Although the HP board's own investigation cleared Hurd of any harassment, it did find that he had submitted inaccurate expense reports. Because of that, the board asked for Hurd's resignation, and Hurd agreed to a severance package worth approximately $28 million.

For more on this story, read HP board sued over Hurd ousting on CNET News.

Topics: Legal, CXO, Enterprise Software, Hewlett-Packard, IT Employment

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