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.

For more, read the eWeek article: SEC Reportedly Investigating Hurd for Insider Trading.

CIO Insight Staff
CIO Insight Staff
CIO Insight offers thought leadership and best practices in the IT security and management industry while providing expert recommendations on software solutions for IT leaders. It is the trusted resource for security professionals who need network monitoring technology and solutions to maintain regulatory compliance for their teams and organizations.

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