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Corporate

Aug. 13, 2010

HP Board Sued Over CEO Scandal

The shareholder lawsuit accuses the board of Hewlett-Packard of breaching its fiduciary duty by paying deposed CEO Mark Hurd a $40 million severance package.

By Craig Anderson

Daily Journal Staff Writer

PALO ALTO - Hewlett-Packard Co.'s board of directors has been hit with its first shareholder lawsuit accusing the directors of breaching their fiduciary duty by paying deposed chief executive officer Mark Hurd a $40 million severance package even after forcing him to resign.

Mary Blasy, a San Diego-based attorney with plaintiffs' firm Scott & Scott, argued in the complain...

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