SEC Investing Hurds HP Firing

first_imgIt seems like someone is gunning to be the basis of Aaron Sorkin’s next major motion picture. The whole Mark Hurd/HP debacle just keeps getting weirder. In the latest bit of news out of the whole melodramatic proceedings, the Securities and Exchange Committee has opened an investigation into former CEO Hurd’s impromptu August exit from Hewlett Packard.Neither the SEC nor HP is letting on precisely what the investigation is about, but the company said that it “is cooperating fully with the S.E.C. on its investigation.” Hurd’s spokesman added, “Mark acted properly in all respects. It is understandable that the S.E.C. is looking into the events surrounding Mark’s departure, which was followed by a precipitous drop in the value of HP’s stock.” The company’s stock price took a 10 percent drop on Hurd’s exit.According to a Wall Street Journal report earlier in the week, the SEC is looking into the expense reports that were said to be hiring. Hurd was also reported to have destroyed information on a shared computer around the time of his firing. A sexual harassment suit also came to light around the time of Hurd’s firing, filed by actress Jodie Fisher. A number of suits from all sides followed Hurd’s exit. The executive was given a nice severance package and promptly snapped up by Oracle’s Larry Ellison.last_img

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