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The government awards contracts to companies with histories of misconduct such as contract fraud and environmental, ethics, and labor violations. In the absence of a centralized federal database listing instances of misconduct, the Project On Government Oversight (POGO) is providing such data. We believe that it will lead to improved contracting decisions and public access to information about how the government spends hundreds of billions of taxpayer money each year on goods and services. Report an instance of misconduct »

Hewlett-Packard Company

Boardroom Leak Investigation (SEC)

Date: 05/23/2007 (Date of Order)

Misconduct Type: Securities

Enforcement Agency: SEC

Contracting Party: None

Court Type: Administrative

Amount: $0

Disposition: Settlement

Synopsis: The Securities and Exchange Commission settled administrative charges against Hewlett-Packard for failing to disclose the reasons for a director’s abrupt resignation during HP’s investigation into leaks of confidential information about board meetings to the media. The SEC found that several months before the public revelation of the company’s leak investigation, an HP director objected to the company’s handling of the matter and resigned from the board in May 2006, yet HP failed to disclose the reasons for his resignation as required by federal securities laws. The SEC charged HP with violating the public reporting requirements of the Securities Exchange Act of 1934. Without admitting or denying the SEC’s findings, HP consented to an order that it cease and desist from committing or causing violations of these provisions. See related Hewlett-Packard instance, “Boardroom Leak Investigation (California).” See related Hewlett-Packard instances, “Boardroom Leak Investigation (California)” and “Boardroom Leak Investigation (Stockholder Derivative Lawsuits).”