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Hurd Reportedly Target of SEC Insider Trading Probe

By CIOinsight  |  Posted 12-21-2010 Print

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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.



 

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