Hurd Reportedly Target of SEC Insider Trading Probe
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.