Suit Filed Against HP’s Board Of Directors Over Former CEO Mark Hurd’s Resignation [Lawsuits]

Aug 13th 2010
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A lawsuit has been filed against the HP board of directors on behalf of an HP shareholder. The suit is alleging that the directors ” violated their fiduciary duties in connection with the events surrounding the resignation” of former CEO Mark Hurd:

Among other things, the 45-page suit alleges that H-P’s board violated its corporate-governance guidelines by failing to inform shareholders of the investigation. It also attacks details of Mr. Hurd’s exit package, that is estimated at above $35 million.

Yikes. Just what HP’s board should address while hunting for a new CEO. [WSJ via CNET]

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This post is tagged: ceo, Directors, Hurds, lawsuits, resignation, suit

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