Outside legal counsel will help them conduct the investigation, Reuters said, citing court papers.
Though there were allegations of sexual harassment, the board said there was no evidence to substantiate them. The board had used outside attorneys in their initial inquiry.
HP’s earlier investigation showed “inaccurate expense reports” were submitted, and concluded that Hurd's actions, related to a self-employed consultant, showed “a lack of judgment,” Reuters said.
Shareholder plaintiffs are suing HP, apparently in response to its actions in Hurd’s departure, and they say the “separation agreement” cost the company about $40 million, in either cash or stock/options, Reuters reported. They claim the expenditures amounted to "corporate waste," Reuters said.
Reuters adds that the separation agreement was “pared back” after Hurd and H-P reached a settlement over him taking the job at Oracle.
TMCnet reported in August that Hurd decided, with the Board of Directors, to resign his position as CEO, effective immediately.
At the time of his exit, HP’s Robert Ryan, lead independent director, released a statement that said in part, “The board deliberated extensively on this matter. It recognizes the considerable value that Mark has contributed to HP over the past five years in establishing us as a leader in the industry,” TMCnet reported. “He has worked tirelessly to improve the value of HP, and we greatly appreciate his efforts.”
Want to learn more about the latest in communications & technology? Then be sure to attend ITEXPO East 2011, taking place Feb 2-4, 2011, in Miami. ITEXPO (News - Alert) offers an educational program to help corporate decision makers select the right IP-based voice, video, fax and unified communications solutions to improve their operations. It's also where service providers learn how to profitably roll out the services their subscribers are clamoring for – and where resellers can learn about new growth opportunities. To register, click here.