HP and SEC Settle Pretexting Scandal
May 25, 2007 12:26 AM
Both HP and the U.S. SEC are glad to officially close the door on the pretexting scandal
In an attempt to finally move past
last year's pretexting scandal
, Hewlett-Packard recently announced that it settled with the United States Securities and Exchange Commission. The SEC opened an investigation into HP activities about how the company disclosed the resignation of Tom Perkins from the HP board in May 2006. According to the SEC, HP should have fully disclosed Perkins left the company due to his objection of certain boardroom practices.
"HP acted in what it believed to be a proper manner. However, we understand and accept the SEC's views and are pleased to put this investigation behind us," said Michael Holston, HP executive vice president.
The cease-and-desist order from the SEC will allow the company to
move on without officially admitting any wrongdoing
The SEC did not penalize HP with a monetary fine or other form of punishment. According to Marc Fagel, associate regional director for the San Francisco SEC office, HP wasn't punished because, "It was a new rule and [HP] relied on their attorneys."
Fallout from the scandal included the abrupt resignation of Perkins, and indictments on chairwoman Patricia Dunn, a company attorney and two others. The felony charges were
eventually dropped against Dunn, and the others
made plea bargains
with the prosecution.
In an e-mail made to the press, Perkins admitted he is happy the "HP boardroom drama is now satisfactorily concluded."
"We’re Apple. We don’t wear suits. We don’t even own suits." -- Apple CEO Steve Jobs
Charges Dropped Against Former HP Chief Dunn
March 14, 2007, 2:03 PM
California Offers Deal in HP Spying Case
January 18, 2007, 1:46 PM
California Attorney General Charges HP Insiders in Spy Probe
October 5, 2006, 1:22 AM
Not All the High-Tech Jobs Are in California
August 4, 2016, 8:29 PM
Google's Gleaming Glass HQ Gets Mountain View Snub, LinkedIn Gets the Love
May 7, 2015, 6:58 AM
Tech's Tax Day Fortunate Few: Qualcomm, Xerox, GE, et al. Pay Little or No Taxes
April 15, 2015, 11:30 AM
LinkNYC Terminals to Blanket New York City With Free WiFi, Free Calls, and Ads
November 17, 2014, 6:50 PM
Microsoft is Open-Sourcing Most of .NET, Adding OS X and Linux Support
November 12, 2014, 8:27 PM
Home Depot Lost 53 Million Emails, Blames Windows, Buys Execs New Macs
November 9, 2014, 5:00 PM
Most Popular Articles
Sales Battle - Apple iPad Mini vs Samsung Galaxy Tab
November 29, 2016, 12:36 AM
PlayStation 4 Pro – 4K Console for 4K TVs
November 28, 2016, 1:00 AM
Phillips 55’ 4K Smart TV – Is This Really a Deal? We Think So.
November 25, 2016, 9:44 AM
Google Wi-Fi – A Scalable Wi-Fi Solution for any size Home or Apartment
November 30, 2016, 1:00 AM
PIQ ROBOTTM reveals its new artificial intelligence software
November 29, 2016, 12:59 AM
Latest Blog Posts
Dec 4, 2016, 5:00 AM
Dec 3, 2016, 5:00 AM
Dec 2, 2016, 5:00 AM
Surface Ergonomic Keyboard
Dec 1, 2016, 3:01 AM
Chapeconense plane crash: Football rallies around Brazilian Team
Nov 30, 2016, 1:00 AM
How to Extends Your iPhone’s Battery Life
Nov 29, 2016, 12:49 AM
Nov 28, 2016, 1:12 AM
News: Fidel Castro
Nov 27, 2016, 5:00 AM
Nov 26, 2016, 5:00 AM
Changes in Social status affect the way genes turn on and off within immune cells.
Nov 25, 2016, 5:12 AM
Austrian far–right hopeful Hofer may back EU vote.
Nov 24, 2016, 4:00 AM
Final Fantasy XV Leaked Before Nov 29 Launch Date
Nov 23, 2016, 1:00 AM
Nov 22, 2016, 2:26 AM
Nov 21, 2016, 1:00 AM
HTC Makes Big Moves in China
Nov 20, 2016, 2:00 AM
Do you know who is the number one company in the word?
Nov 19, 2016, 5:30 AM
Foldable Cardboard ”EcoHelmet” wins James Dyson Award’s Top Prize
Nov 18, 2016, 2:39 AM
Scientists Discover Roundest Object Ever Spotted in Universe
Nov 17, 2016, 1:00 AM
Smallest Device Lets You Print Almost from Anywhere
Nov 16, 2016, 9:32 AM
Cancer Screening in the Community Is there a link between Cancer and Poverty?
Nov 15, 2016, 8:00 AM
More Blog Posts
Copyright 2016 DailyTech LLC. -
Terms, Conditions & Privacy Information