Suit Filed Against HP Over Former CEO Mark Hurd's Resignation

A lawsuit has been filed against the HP board of directors on behalf of a 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, which is estimated at above $US35 million.

Yikes. Just what HP's board needs to deal with while trying to find a new CEO. [WSJ via CNET]

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