[HIB]HP Board Sued Over Hurd Ousting

The first lawsuit on behalf of a shareholder has been filed against Hewlett-Packard in connection to the resignation of former CEO Mark Hurd.The Wall Street Journal first reported on Thursday that a Connecticut law firm is representing HP shareholder Brockton Contributory Retirement System in a complaint against HP's board of directors, Hurd, and interim CEO Cathie Lesjak. The suit accuses the board of breach of fiduciary duties in how it handled Hurd's resignation.The board on Friday announced that it asked Hurd to resign as chief executive of one of the world's foremost technology companies after he was accused of sexual harassment by former HP marketing contractor Jodie Fisher. Although the HP board's own investigation cleared Hurd of any harassment, it did find that he had submitted inaccurate expense reports. Because of that, the board asked for Hurd's resignation, and Hurd agreed to a severance package worth approximately $28 million.

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