<img alt="dcsimg" id="dcsimg" width="1" height="1" src="//www.qsstats.com/dcsuuvfw300000gkyg9tnx0uc_3f7v/njs.gif?dcsuri=/index.php/c/a/Latest-News/SEC-Reportedly-Investigating-Hurd-for-Insider-Trading-636242&amp;WT.js=No&amp;WT.tv=10.4.1&amp;dcssip=www.cioinsight.com&amp;WT.qs_dlk=XG-5NGZa4K7j7HKPIhQEXwAAABI&amp;">
 

Hurd Reportedly Target of SEC Insider Trading Probe

By CIOinsight  |  Posted 12-21-2010 Print
According to a report in the Wall Street Journal, the U.S. Security and Exchange Commission is investigating Mark Hurd for possible insider trading illegalities that allegedly took place in 2008.

Former Hewlett-Packard CEO Mark Hurd has been a regular magnet for legal controversy in 2010.

On Aug. 6, he was forced to resign at HP following allegations of sexual harassment by an HP social-event contractor and for falsifying reimbursement documents to cover up the relationship. Hurd settled the sexual harassment case out of court; he also settled the document problem with HP.

A few weeks after Hurd's unexpected departure at HP, a number of shareholders sued Hurd and the company for fiduciary malfeasance when the stock price suddenly took a nosedive. Those cases are pending.

Then, one day after Hurd was hired as co-president of Oracle on Sept. 6, HP brought a civil lawsuit against Hurd for breaking a severance agreement in joining one of its most powerful competitors so soon after taking a $40 million severance package. Hurd and HP settled 13 days later.



 

Submit a Comment

Loading Comments...
eWeek eWeek

Have the latest technology news and resources emailed to you everyday.