The US markets regulator is investigating Mark Hurd's departure from Hewlett-Packard Co as part of a broad inquiry that will also look into claims that the former chief executive leaked inside information on a multi-billion dollar deal, says a media report. "Federal regulators are investigating Mark Hurd's departure from H-P in a broad inquiry that includes an examination of a claim the former chief executive shared inside information," The Wall Street Journal reported, citing a source.
As part of the probe, the SEC is checking whether Hurd, now Co-President of Oracle Corp, passed on information about H-P's $13.9 billion acquisition of technology consulting company Electronic Data Systems Corp in 2008 to a former H-P event hostess before the deal was announced, the report noted.
According to the publication, Hurd has denied having an inappropriate relationship with the H-P contractor, Jodie Fisher, whose accusation of sexual harassment led to his ouster from the technology giant in August.
The SEC is also looking into Hurd's alleged misuse of corporate expenses in his dealings with Fisher, it added. "Mark acted properly in all respects. It is understandable that the SEC is looking into the events surrounding Mark's departure, which was followed by a precipitous drop in the value of H-P's stock," the report quoted Glenn Bunting, a spokesman for Hurd, as saying.
An H-P spokesperson said the company "is cooperating fully with the SEC on its investigation."
