Judge Tosses Lawsuit Against HP And Ex-CEO Hurd, Calls HP's Ethics Statement 'Inactionable Puffery'


In the original class-action lawsuit, a copy of which can be viewed online, the plaintiffs said HP issued a Standards of Business Conduct Brochure (SBC) in 2006, with modifications in 2008 and 2010, and that Hurd had been "materially violating" those SBCs with his relationship with Fisher.

The plaintiffs also called those violations "material to investors because they subjected Hurd to the risk of dismissal from HP," but said that HP did not reveal that it was investigating Hurd until the company on Aug. 6, 2010, announced his departure.

The plaintiffs also sued Hurd whose actions, because of his position as CEO, could materially impact HP.

That entire period when Hurd was fired by HP -- and the subsequent lawsuits between the two -- was a big mess, said Rich Baldwin, CIO and chief strategy officer at Nth Generation Computing, a San Diego-based solution provider and long-time HP partner.

"This is the best possible outcome," Baldwin said. "There was a lot of time and money spent on those cases, and it's already a non-issue."

An HP spokesperson said the company is not commenting on the dismissal of the lawsuit. Oracle did not respond to requests for more information by press time.

PUBLISHED AUG. 12, 2013