HP has settled a federal securities charge which claimed it illegally concealed the reason a director resigned.
SEC found that HP violated mandatory disclosure rules in the way it
announced venture capitalist Tom Perkins' May 2006 resignation from the
board.
According to Associated Press,HP will not be fined or even have to
admit it did anything wrong. It just has to promise it will never do
it again.
Michael Holston, HP's executive vice president and general counsel said
that HP acted in what it believed to be a proper manner. But it
understand and accepted the SEC's views.
Perkins quit in protest of the spying tactics used to ferret out the
source of boardroom leaks to the media. HP didn't tell SEC why Perkins
quit.
More here.