Feeds

HP escapes fine for boardroom spying scandal

Promises not to do it again

Choosing a cloud hosting partner with confidence

HP has settled allegations over its failure to disclose why one of its directors resigned in the midst of last year's boardroom mole fiasco.

The computer giant has not been fined and said it neither admitted nor denied the Securities and Exchange Commission (SEC) findings, but has agreed to a cease and desist order, effectively barring it from breaching public reporting requirements.

Under the SEC ruling companies are required to issue a specific filing when directors quit their post due to objections over corporate practices.

But it took several months after Tom Perkins walked for HP to reveal that the veteran board member had disagreed with how the firm handled what he described as "the chair's improper and likely unlawful investigation" into leaks.

Shady tactics had been employed which included the use of "pretexting" to snoop on boardroom members, as well as hiring private investigators to trail journalists who had initially reported the leak.

Responding to the settlement with the SEC in an official statement released yesterday, HP's executive VP Michael Holston said: "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."

Director of the SEC's division of enforcement, Linda Chatman Thomsen, took a more sober view of the settlement and said: "This action highlights the importance of the required disclosures regarding corporate governance issues.

"The Federal securities laws exist to ensure transparency, and investors have a right to know when a dispute among board members over operations, policies, or practices causes a director to resign, as such a dispute may have far-reaching ramifications for the company." ®

Choosing a cloud hosting partner with confidence

More from The Register

next story
NSA SOURCE CODE LEAK: Information slurp tools to appear online
Now you can run your own intelligence agency
Azure TITSUP caused by INFINITE LOOP
Fat fingered geo-block kept Aussies in the dark
Yahoo! blames! MONSTER! email! OUTAGE! on! CUT! CABLE! bungle!
Weekend woe for BT as telco struggles to restore service
Cloud unicorns are extinct so DiData cloud mess was YOUR fault
Applications need to be built to handle TITSUP incidents
Stop the IoT revolution! We need to figure out packet sizes first
Researchers test 802.15.4 and find we know nuh-think! about large scale sensor network ops
Turnbull should spare us all airline-magazine-grade cloud hype
Box-hugger is not a dirty word, Minister. Box-huggers make the cloud WORK
SanDisk vows: We'll have a 16TB SSD WHOPPER by 2016
Flash WORM has a serious use for archived photos and videos
Astro-boffins start opening universe simulation data
Got a supercomputer? Want to simulate a universe? Here you go
Microsoft adds video offering to Office 365. Oh NOES, you'll need Adobe Flash
Lovely presentations... but not on your Flash-hating mobe
prev story

Whitepapers

Go beyond APM with real-time IT operations analytics
How IT operations teams can harness the wealth of wire data already flowing through their environment for real-time operational intelligence.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Why CIOs should rethink endpoint data protection in the age of mobility
Assessing trends in data protection, specifically with respect to mobile devices, BYOD, and remote employees.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Seattle children’s accelerates Citrix login times by 500% with cross-tier insight
Seattle Children’s is a leading research hospital with a large and growing Citrix XenDesktop deployment. See how they used ExtraHop to accelerate launch times.