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Wednesday, 26 September 2012 - Lawsuit over HP ex-CEO Hurd payout dismissed |
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See the best of Reuters photography.  See more | Photo caption  Siberia's air 911 For thousands of people in Siberia, air evacuation is the only way they can get emergency medical treatment.  Slideshow  Yom Kippur Yom Kippur, the Jewish Day of Atonement.  Slideshow  Lawsuit over HP ex-CEO Hurd payout dismissed Tweet Share this Email Print Related News Army Corps not liable for Katrina damage: court Tue, Sep 25 2012 U.S. judges to decide venue for Facebook lawsuits Wed, Sep 19 2012 RPT-AIG shareholders: NY AG should not derail $115 mln accord Wed, Sep 19 2012 Court revives mortgage debt class-action vs Goldman Thu, Sep 6 2012 Oracle-Google judge ends probe into paid bloggers Thu, Sep 6 2012 Analysis & Opinion SCOTUS and securities class actions: a love story Related Topics Tech » File photo of Mark Hurd speaking at the Fortune Brainstorm Tech conference in Pasadena, California, in July 24, 2009 Credit: Reuters/Fred Prouser/Files By Erin Geiger Smith Tue Sep 25, 2012 9:35pm EDT (Reuters) - A federal judge has dismissed a shareholder lawsuit filed against former Hewlett Packard Co Chief Executive Mark Hurd and the company's board of directors that claimed Hurd received an excessive payout when he abruptly quit two years ago. U.S. District Judge Edward Davila of San Jose, California, said the plaintiffs failed to show that the board's approval of Hurd's separation agreement was not in the company's best interest. The shareholders, including lead plaintiff Louis Levine, had alleged that the cash and benefits paid to Hurd as part of the agreement were excessive and that the company received no benefit from approving the agreement, the opinion said. Hurd, now a president of rival Oracle Corp, resigned in August 2010 following allegations of sexual harassment by independent HP contractor Jodie Fisher. An internal HP investigation had cleared Hurd of harassment but found he had filed inaccurate expense reports. HP had no comment on the case. An attorney for the plaintiffs was unavailable for comment. The judge gave the plaintiffs 30 days to file an amended complaint. The lawsuit was originally filed in August 2010. In June, a Delaware state court judge dismissed a similar suit brought against HP's directors. The case is In re HP Derivative Litigation, U.S. District Court for the Northern District of California, No. 10-03608. (Reporting By Erin Geiger Smith; Editing by Edmund Klamann) Tech Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints   We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.   Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Support Corrections Connect with Reuters Twitter   Facebook   LinkedIn   RSS   Podcast   Newsletters   Mobile About Privacy Policy Terms of Use AdChoices Copyright Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us   Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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